Adam Smith's Argument That the "Invisible Hand" of the Free

question 127

True/False

Adam Smith's argument that the "invisible hand" of the free market directed economic life more effectively and fairly than governmental intervention offered intellectual justification for those who believed that the economy should be left to regulate itself.

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Definitions:

Monetary Unit

The standard unit of value of a currency, used as a medium of exchange within an economy.

Exchange Rate

The value of one currency for the purpose of conversion to another, dictating how much of one currency can be exchanged for another currency.

Rolls-Royce

A British luxury automobile and aero engine manufacturer known for high-quality, prestigious vehicles and propulsion systems.

Foreign Exchange

The exchange of one currency for another or the conversion of one currency into another currency.