Which Statement Was Coined by Adam Smith

question 179

Multiple Choice

Which statement was coined by Adam Smith?

• A)By pursuing his own interest,he frequently promotes that of the society more effectually than when he really intends to promote it.
• B)The factory owner,by paying his workers meager wages,is able to use this surplus to buy more capital goods.
• C)The foundation of our economic system is socialist ownership of the means of production in the form of state property and collective farm and cooperative property.
• D)None of these statements were coined by Adam Smith.

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Definitions:

Income-Transfer Payments

Transfers of money from the government to individuals without any expectation of work or goods and services in return, often aimed at redistributing wealth.

Government Purchases

Expenditures by government entities on goods and services for current use to directly satisfy individual or collective needs.

Military Hardware

Physical, tangible equipment and weapons used by armed forces, such as tanks, aircraft, and ships.