The analysis of national production and consumption, which Adam Smith developed, became known as:
A) Econometrics
B) Political economy
C) Political science
D) Modern sociology
E) National accounting
Correct Answer:
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Q11: In England, in the latter decades of
Q12: In pre-industrial societies, most agricultural or craft
Q13: With production on a much grander scale
Q14: Published in 1776, Adam Smith's book The
Q15: Adam Smith's metaphor of the "invisible hand"
Q17: The late 19th century was a period
Q18: As modern economics developed into an academic
Q19: Economists apply the concept of "utility" to
Q20: The emergence of econometrics as a field
Q21: John Maynard Keynes established the idea that
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