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The Constitution of Liberty by Friedrich von Hayek
  • 1. What is the primary focus of 'The Constitution of Liberty'?
A) Economic growth through government intervention.
B) The principles of individual freedom and the rule of law.
C) Socialism and collective ownership.
D) Monetary policy and inflation control.
  • 2. In which year was 'The Constitution of Liberty' published?
A) 1944
B) 1982
C) 1960
D) 1973
  • 3. What does Hayek mean by 'the rule of law'?
A) Legal framework that applies equally to all individuals.
B) A legal framework that prioritizes state power over individual rights.
C) A system where laws are made for certain classes only.
D) Laws that can be changed at any time by the government.
  • 4. According to Hayek, what is a potential danger of collectivism?
A) It enhances democratic processes.
B) It guarantees economic prosperity.
C) It ensures equality for all citizens.
D) It can lead to tyranny and loss of individual freedoms.
  • 5. How does Hayek view the relationship between liberal democracy and individual freedom?
A) Democracy should focus solely on majority rule.
B) Liberal democracy restricts individual freedom.
C) Liberal democracy supports and protects individual freedom.
D) Individual freedom is irrelevant to democracy.
  • 6. Which philosophical tradition does Hayek draw upon?
A) Classical liberalism.
B) Postmodernism.
C) Marxism.
D) Utilitarianism.
  • 7. What role does competition play in Hayek's theory?
A) It is detrimental to social welfare.
B) It creates inequality and should be controlled.
C) It should be replaced by cooperation.
D) It drives innovation and efficiency.
  • 8. What type of economic system does Hayek advocate for?
A) A centrally planned economy.
B) A free-market economy.
C) A mixed economy with heavy regulation.
D) A command economy.
  • 9. What distinction does Hayek make regarding knowledge in society?
A) All knowledge can be collected and utilized by the government.
B) Expert knowledge is superior to local knowledge.
C) Knowledge is dispersed and cannot be centralized.
D) Knowledge should be regulated by authorities.
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