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Economists John Kenneth Galbraith and Friedrich Hayek Disagreed About the Roles

Question 355

Multiple Choice

Economists John Kenneth Galbraith and Friedrich Hayek disagreed about the roles of advertising and government.Which of the following is correct?


A) Galbraith thought advertising artificially enhanced consumers' desires for private goods, while Hayek thought no producer could "determine" consumers' tastes though advertising.
B) Galbraith believed in enhancing personal freedoms, while Hayek advocated larger government.
C) Galbraith thought advertising was a waste of resources because it did not influence consumers, while Hayek thought advertising was powerful enough to "determine" consumers' tastes.
D) Galbraith believed that the government should not interfere in markets, while Hayek believed that there was insufficient government regulation of marketing.

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