In the Wealth of Nations (1776),Adam Smith Made All of the Following

question 27

Multiple Choice

In The Wealth of Nations (1776) ,Adam Smith made all of the following arguments for laissez-faire capitalism,EXCEPT

• A)that the desire for profit is the invisible hand that guides a capitalist system.
• B)that the government should not be allowed any role whatsoever in the economy.
• C)that private firms should be left alone to make their production and distribution decisions.
• D)that the government should regulate banking,currency,and contracts.
• E)that certain areas of the economy were better run by government agencies.

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Definitions:

Amplitude

The extent or range of a variable wave, such as sound or light, often measured from the middle value to an extreme.

Pitch

A perceptual property of sounds that allows their ordering on a scale from low to high, primarily associated with the frequency of sound waves.

Loudness

A perceptual characteristic of sound that enables the differentiation of sounds on a scale from quiet to noisy, often measured in decibels.

Perceptual Adaptation

The ability of the body to adjust to an environment by filtering out distractions and adjusting to new stimuli.