Adam Smith advocated ?

Related Mcqs:

One criticism of Rostow’s theory of economic growth is that ?

A. much available data contradicts his thesis about the takeoff stage B. there is no explanation of why growth occurs after takeoff C. his hypothesis of the stages of growth is difficult to test empirically D. All of the above are correct...

A major dependency theorist Andre Gunder Frank Suggests that the following economic activities have contributed to underdevelopment:

I- Workers migrating from villages to foreign-dominated urban complexes II- Forming an unskilled labor force to work in factories and mines and on plantations III- Replacing indigenous enterprises with technologically more advanced global subsidiary companies IV- Closing the economy to trade with and investment from, developed countries A. I and II only B. II and … A major dependency theorist Andre Gunder Frank Suggests that the following economic activities have contributed to underdevelopment:Read More...

The Lawis model explains how growth gets started in a less developed economy ?

A. with an average product of labor in agriculture that is negative B. with a downward-sloping supply curve of labor C. with a marginal productivity of labor zero or negligible in industry D. with a traditional agricultural sector and an industrial capitalist sector...

The Ultimate effect of the invisible hand of Adam Smith is that in a competitive economy everyone ?

A. benefits if each acts in his/her own interest B. will increase their profits in a free market C. should act to maximize economic growth D. should act to promote the public interest...

The essential difference between capitalism and socialism is that ?

A. capitalism exploits the worker and socialism exploits the property owner B. capitalism relies on the market to make economic decisions and socialism uses central planning C. capitalism grows through rent seeking and socialism grows through government direction D. capitalism relies on consumer satisfaction to dictate choices and socialism relies on producer satisfaction...