Adam Smith

question 128

Multiple Choice

Adam Smith

• A)argued that capitalism is often confused with democracy.
• B)wrote Das Kapital.
• C)said that the entrepreneur is motivated by self-interest.
• D)coined the phrase: "From each according to his ability,to each according to his needs."

---

Definitions:

New Federalism

A political philosophy of devolution, or the transfer of certain powers from the United States federal government back to the states, initiated in the 1970s.

Unfunded Mandates

Legal requirements or conditions for federal programs that are imposed by Congress on state and local governments without providing federal funding to cover the costs.

Home Rule

Home rule refers to the power granted to political subdivisions by the state to govern themselves with minimal state interference.

Unfunded Mandate

A regulation or policy imposed by a higher authority (such as the federal government) on lower government levels or the private sector, without providing corresponding funds for implementation.