The father of modern economics that wrote The Wealth of Nations is:
a. Karl Marx b. John Maynard Keynes
c. Adam Smith d. Thorstein Veblen
c
Economics
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In modern economies
A) some prices are very flexible while others are not. B) no prices are very flexible. C) all prices are very flexible. D) prices become less flexible as they increase.
Economics
In the figure above, if a tax is imposed that generates an efficient allocation of resources, then consumers will pay a price of
A) $250 per unit. B) $200 per unit. C) $150 per unit. D) $100 per unit.
Economics