Multiple Choice
The policy of minimum government interference in or regulation of economic activity,
Advocated by Adam Smith and the Classical economists, was known as
A) the law of comparative advantage.
B) laissez-faire.
C) the labor theory of value.
D) Mercantilism.
Correct Answer:
Verified
Correct Answer:
Verified
Q8: A Mercantilist policymaker would be in favor
Q9: In the context of David Hume's price-specie-flow
Q10: Why was a positive trade balance so
Q11: In David Hume's price-specie-flow doctrine or adjustment
Q12: Two important assumptions contained in David Hume's
Q14: In the Mercantilist view of international trade
Q15: According to the labor theory of value,<br>A)
Q16: What were the critical foundations of Mercantilist
Q17: Suppose that country A's total exports are
Q18: With M<sub>S</sub> = supply of money, V