John Maynard Keynes believed in government intervention into the economy to regulate the markets. Therefore, this statement would signify Keynes' view that B) government regulation is necessary to stabilize the economy.
The proposed response of Adam Smith based on each scenario is given below:
<h3>Scenario 1</h3>
He would say that the pricing system should remain the main determinant of the market and the interference of the government was uncalled for.
<h3>Scenario 2</h3>
He would side with the free market system and be an opponent of the law that frowns on importation.
<h3>Scenario 3</h3>
He would support the suspension of the antitrust laws.
<h3>Scenario 4</h3>
He would believe that markets should not be regulated and the free market system should continue.
<h3>Who is Adam Smith?</h3>
He is the father of modern economics for his work in pioneering ideas such as free trade and the gross domestic product
Hence, we can see that the proposed response of Adam Smith based on each scenario is given above.
Read more about Adam Smith here:
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Answer:
Caste system
Explanation:
The caste system is referred to as the system in which people are restricted to their own strata. it is referred to social structure in which people are bound to it and restricted to follow their own culture.
In a country like India, the caste system plays a vital role in deciding the social status of people. High caste people are assumed to have higher social status than other lower caste.
Answer:
The correct answer is letter "C": households and noncorporate businesses have left after paying taxes and non-tax payments to the government.
Explanation:
The disposable income is the money left by a person or organization after paying all taxes. Some deductions that can impact the amount of disposable income are deductions on jobs for such things as health insurance. The disposable income is the net amount earned in people's paychecks. for the government, disposable income is non-tax money.
Answer:
Spending Variance $389 Unfavorable
Explanation:
<em>The spending variance is the difference between the standard cost allowed for the actual level of activity and the actual cost incurred.</em>
$
Standard allowance ($19× 609) + 1090 12,661
Actual cost 1<u>3,050</u>
Spending Variance <u> 389 Unfavorable</u>
