Adam Smith believed that
A. people should never buy anything if they can make it themselves.
B. what makes sense in the conduct of a private family's economic endeavors also makes sense in those of a nation.
C. trading with other nations promotes full employment.
D. a nation will gain if its citizens trade among themselves, but it will probably lose if it trades with other nations.
B. what makes sense in the conduct of a private family's economic endeavors also makes sense in those of a nation.
You might also like to view...
Consider a firm with one fixed cost, rent, and one variable cost, wages. Describe the effects of an increase of this firm's rent
Which of the following is not a segment of the foreign exchange market?
a. The stock market for multinational companies. b. The outright forward market. c. The futures-and-options market. d. The spot market. e. All of the above are segments of the foreign exchange market.
Briefly explain how banks serve as financial intermediaries and provide an example of how they provide mediums of exchange.
What will be an ideal response?
Recall the Application about the harmattan and how it affects the price of cocoa to answer the following question(s).According to this Application, the longer than usual harmattan has impacted the supply curve for cocoa pods, shifting the supply curve to the ________ due to a(n) ________ in cocoa yields.
A. right; increase B. right; decrease C. left; increase D. left; decrease