, Adam Smith Made All of the Following Arguments for Laissez-Faire

question 56

Multiple Choice

, Adam Smith made all of the following arguments for laissez-faire capitalism, EXCEPT

• A) the desire for profit is the invisible hand that guides a capitalist system.
• B) the government should not be allowed any role whatsoever in the economy.
• C) private firms should be left alone to make their production and distribution decisions.
• D) firms will try to use as few resources as possible in order to keep their prices low.
• E) certain areas of the economy were better run by government agencies.

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Definitions:

William McKinley

The 25th President of the United States, serving from 1897 until his assassination in 1901, known for leading the country during the Spanish-American War and advocating for protective tariffs.

Ordinary Americans

A term referring to the general public or the average citizens of the United States without reference to any elite or special groups.

Commonwealth

A political association of sovereign states, often former territories of the British Empire, which cooperates on mutual interests and values such as democracy and human rights.

Puerto Rico

An unincorporated territory of the United States located in the Caribbean Sea, with a distinct culture that blends indigenous, African, and Spanish influences, and has a complex relationship with mainland U.S.