Friedrich List, in His National System of Political Economy, _____

question 34

Multiple Choice

Friedrich List, in his National System of Political Economy, _____.

• A) insisted that Adam Smith's laissez-faire ideas should be adopted in Germany
• B) declared that England should be Germany's model for economic development
• C) called for high tariff walls to protect the development of German industry
• D) denounced the historical school of economics

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Definitions:

Admission by Investment

The process of becoming a partner or member in a company or partnership through a financial investment.

Capital Balance

The amount of money in a company's equity account, not including profits or losses.

Interest

The fee paid for borrowing money, typically expressed as an annual percentage of the principal.

Relinquished

Refers to the act of giving up or surrendering a right, possession, or claim.