Which of the Following Did Adam Smith See as a Valid

question 24

Multiple Choice

Which of the following did Adam Smith see as a valid reason for creating an economy with less government regulation?

• A) Wealth that resulted from early factories would result in population growth.
• B) He believed that the laws of God did not permit the guilds' imposition of controls on labor.
• C) He believed that free and fair competition provided the best opportunity to produce wealth.
• D) Mercantilists advocated rational self-interest, which could not advance the common good.

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Definitions:

Phonological Loop

A component of the working memory model that deals with the storage and manipulation of verbal and auditory information.

Visuospatial Sketchpad

A component of working memory responsible for temporarily holding and processing visual and spatial information.

Episodic Buffer

The system that binds visual and verbal information in the long-term store and retrieves information from the long-term store.

Central Executive

The part of the brain's working memory system responsible for overseeing and regulating the flow of information from and to its various components.