The classical economists attacked the mercantilist propositions that
a. state action was necessary to direct the capitalist system.
b. money had no intrinsic value.
c. output was completely supply-determined.
d. the wealth of a nation was closely linked to the country's stock of precious metals.
e. Both a and d
E
Economics
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To an economist, ________ is anything that is generally accepted in payment for goods and services or in the repayment of debt
A) wealth B) income C) money D) credit
Economics
All of the following take place in the direct finance market except
A) ownership in corporations is sold in the form of common stock. B) deposits from savers are accumulated and loans made to borrowers. C) ownership in corporations is sold in the form of preferred stock. D) corporate bonds are sold to savers.
Economics