_________ Claimed That the Unseen Hand of the Marketplace Would

question 39

Multiple Choice

_________ claimed that the unseen hand of the marketplace would produce the best economic and social outcomes.

• A)David Ricardo
• B)Adam Smith
• C)Thomas Malthus
• D)Karl Marx

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Definitions:

Tax Rate

The percentage at which an individual or corporation is taxed on their income or profits.

Utility Function

A representation in economics that maps a set of goods and services into a level of utility or satisfaction.

Leisure

Time available for ease and relaxation where no work is done.

Consumption Goods

Goods that are intended and consumed by individuals or households to satisfy their immediate wants and needs.