According to Adam Smith, what is the primary source of a nation's wealth?
a. The amount of gold and silver in the government's possession.
b. A spirit of cooperation in which people share according to their means.
c. Strong central planning authorities.
d. The people's ability to produce products and trade in free markets.
d
Economics
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A possible problem of democracy
A) is moral hazard. B) is protected property rights. C) is mob rule. D) none of these choices is a problem.
Economics
"Vote for my special local project and I will vote for yours." This political technique:
A. illustrates the paradox of voting. B. is called "logrolling." C. illustrates the median voter model. D. undermines the benefits-received principle.
Economics