Which of the following statements would a follower of Adam Smith be most likely to make?
A)The federal government should use its ability to spend and tax to guide the decisions of businesses and consumers.
B)Market economies are flawed because they put too much emphasis on economic growth and not enough on environmental problems.
C)Overpopulation is the main danger confronting modern economies.
D)If people are given the freedom to follow their own interests,they will end up promoting economic growth that benefits society as a whole.

Question

Quizplus · Accepted Answer

A follower of Adam Smith would likely believe in the concept of laissez-faire economics, which argues that individuals should be free to pursue their own self-interests without government interference. This would lead to increased competition and greater efficiency, ultimately benefiting society as a whole through economic growth. Choice A contradicts this idea by advocating for government intervention, while choice B addresses environmental concerns rather than economic principles. Choice C focuses on a specific issue rather than broad economic theory.

Which of the Following Statements Would a Follower of Adam