Classical economics, as propounded by Adam Smith and others, maintained that
A) government should do as much as possible to ensure the effective functioning of the economy and the welfare of its citizens.
B) the free market and free trade should reign everywhere.
C) tariffs should be erected to safeguard the growing industries of each country.
D) workers, by freely seeking the best wages offered in an unregulated system, would find prosperity for themselves and their families.
Correct Answer:
Verified
Q5: Steam engines were first used to
A) propel
Q6: The early factories in England were mainly
A)
Q7: For the most part, the new factories
Q8: Major incentives to industrialism in Britain were
Q9: According to the classical economists' "iron law
Q11: Between about 1800 and 1870, the unchallenged
Q12: The most significant form of socialism before
Q13: Political nationalism was an ideology based upon
Q14: Conservatism after 1815 remained strong, building on
Q15: In the years immediately following the Congress
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents