For many years,Congressman Ricardo Perez has called for more government regulation of business."After all," the Congressman said recently,"businesspeople are out to make a profit,not to create jobs or serve their customers.The government must pass more laws to require businesses to take the interests of consumers and workers into account." From these comments,it is clear that Congressman Perez:
A)Agrees with the ideas of Thomas Malthus.
B)Does not accept the "invisible hand" idea brought forth by Adam Smith.
C)Is unaware of the fact that most businesses in the United States are owned by the government.
D)Does not realize that government regulation is already the main determinant of business decisions in capitalist economies.

Question

Quizplus · Accepted Answer

Congressman Perez's statement indicates that he does not accept the idea of the "invisible hand" brought forth by Adam Smith, which suggests that businesses, in their pursuit of profit, ultimately benefit society through the creation of jobs and serving the needs and wants of consumers.

For Many Years,Congressman Ricardo Perez Has Called for More Government