A. Adam Smith
B. David Ricardo
C. Malthus
D. J. M. Keynes
Submitted by: Abdul Saboor Nasar
philosopher Adam Smith published An Inquiry into the Nature and Causes of the Wealth of Nations. There was, of course, economics before Smith: the Greeks made significant contributions, as did the medieval scholastics, and from the 15th to the 18th century an enormous amount of pamphlet literature discussed and
Related Mcqs:
- To help developing nations strengthen their international competitiveness many industrial nations have granted non-reciprocal tariff reductions to developing nations under the ?
A. international commodity agreements program
B. multilateral contract program
C. generalized system of preferences program
D. export-led growth program - The migration of employable workers from low-paying nations to high-paying nations tends to decrease ?
A. total wage income in the world
B. wage disparities
C. business or capitalist income in the world
D. the productivity of labor - The migration of employable workers from low-paying nations to high-paying nations will ?
A. decrease wage rates in the low-paying nations
B. decrease productivity and real output in the world
C. increase business or capitalist incomes in the high-paying nations
D. increase business or capitalist incomes in the low-paying nations - The migrations of electricians from low-paying nations to high-paying nations is most likely to be challenged by ?
A. electrician unions in the high-paying nations
B. electrician unions in the low paying nations
C. electrician employers in the high-paying nations
D. electricians who stay in the low paying nations - In Planned economy’ Production and distribution of Wealth is under control of_____________?
A. Private sector
B. Government
C. Bank
D. None of the above - According to the wealth effect aggregate demand slopes downward (negatively) because ?
A. lower prices increase the value of money holding and consumers spending increase
B. lower prices decrease the value of money holding and consumers spending decrease
C. lower prices reduce money holding increase lending, interest rates fall and investment spending increase
D. lower prices increase money holding decrease lending, interest rates rise and investment spending falls - One of the transmission mechanisms of monetary policy is through consumer demand when interest rates ________ household wealth ________ and consumption _________?
A. rise; increase, increase
B. rise, falls, increase
C. rise, increase, falls
D. rise, falls, falls - The property tax wealth tax inheritance tax and income taxes such as persona and corporate taxes are ?
A. indirect taxes
B. direct taxes
C. inelastic
D. value-added tax - An inferior good is one for which an increase in income causes a(n) ?
A. decrease in supply
B. increase in demand
C. increase in supply
D. decrease in demand - Which example of market expectations causes the dollar to depreciate against the yen – expectation that the U.S economy will have ?
A. faster growth than Japan
B. higher future interest rates than Japan
C. more rapid money supply growth than Japan
D. lower inflation rates than Japan
