Which of the following was a key belief of Adam Smith?
a. he felt that human goodness would provide adequate goods and services to everyone.
b. he stressed that limited exchange and command economies would prevent the exploitation of the poor.
c. he believed that individuals pursuing their own interests would direct economic activity in the most advantageous way.
d. he lectured about the importance of gold and silver in providing a stable monetary system.
C
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Which of the followings statements is true?
A) The amount of capital accumulation will be higher if the capital stock of last year was low. B) The amount of depreciation will be lower if the investment on capital last year was high. C) The amount of capital accumulation will be higher if the capital stock of last year was high. D) The amount of depreciation will be higher if the investment amount on capital last year was low.
Union leaders who focus on increasing the size of their union will generally accept a wage just above the competitive level
a. True b. False Indicate whether the statement is true or false