In the sense of establishing an authoritative

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Question 20In the sense of establishing an authoritative tradition, who can be said to have foundedclassical economics?
Question 21According to mercantilist doctrine, wealth being
Question 22Our choice of purchasing a product depends on
Question 23The laissez­faire doctrine of the classical economists was based on thebelief that_____________ within a suitable institutional framework would lead to the best1.5 out of 1.5 points1.5 out of 1.5 points0 out of 1.5 points1.5 out of 1.5 points1.5 out of 1.5 points1.5 out of 1.5 points1.5 out of 1.5 points
5/23/2017Review Test Submission: Test 1 – 201730 Summer 2017 ECON...5/6allocation of resources.
Question 24The “hand” that leads the individual self­seeker “to promote an end whtich was not part ofhis intention” is called
Question 25Adam Smith preferred wars be financed by:
Question 26Free exchange of goods and services
Question 27Leonard Read used the production of ______ to explain the work of the invisible hand inthe market.
Question 28Classical economistsFavored the conduct of economic activity through market processes rather
Question 29Prior to the industrial revolution, in the feudal system, many decisions about production anddistribution were made by
1.5 out of 1.5 points1.5 out of 1.5 points1.5 out of 1.5 points1.5 out of 1.5 points1.5 out of 1.5 points1.5 out of 1.5 points
5/23/2017Review Test Submission: Test 1 – 201730 Summer 2017 ECON...6/6Tuesday, May 23, 2017 5:42:54 AM EDTQuestion 30Early advocates of classical economics thought viewed the free market as an extension of1.5 out of 1.5 points
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