Which type of trade policy did Adam Smith support?
What will be an ideal response?
Adam Smith supported the free trade philosophy. He believed that voluntary exchange makes both parties of the transaction better off and allocates resources to their highest valued use.
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The simulation modeler must perform a pilot run in order to compare the performance of the model with the performance of the system being simulated
a. True b. False
Larry has $25,000 of bodily injury liability coverage under his PAP. This limit is the minimum amount required by his state to be considered financially responsible
While on a vacation, Larry visited a neighboring state which has a minimum financial responsibility limit of $50,000 for bodily injury. Which of the following statements describes the situation for Larry while he was in the neighboring state? A) Larry's policy was suspended while he was in the neighboring state. B) Larry had only $25,000 of liability coverage. C) Larry's policy automatically provided $50,000 of liability coverage. D) Larry's policy automatically provided $100,000 of liability coverage.