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A decrease in expected inflation shifts
Invisible Hand
A term used by Adam Smith to describe the self-regulating nature of the marketplace.
Adam Smith
An 18th-century Scottish economist and philosopher, best known for his work "The Wealth of Nations," which laid the foundations for classical economics.
The Wealth of Nations
A seminal book by Adam Smith that lays out the basics of classical economics and free-market mechanisms.
Principle of Economics
Fundamental concepts or guidelines that underlie the study of economics, including theories about how markets operate, how people make decisions, and how resources are allocated.
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