Economic growth is defined as a long-run increase in an economy's

Deleveraging is the process of reducing leverage, and therefore reducing the risk to capital from any further declines in asset prices

a. True b. False.

Adam Smith believed that if people were free to pursue their own interests,

a. public interest would be served quite well. b. less would be produced than if altruism were the guiding principle. c. they would generally apply their talents to unproductive activities that would generate little value to society. d. they would have little incentive to undertake productive activities.