Smith had not been one to let religious attitude restrict his thinking. He believed that more wealth to common people would benefit a nation's economy and society as a whole. In The Wealth of Nations, Smith described a self-regulating market.
Answer:
This is an example of availability heuristic.
Explanation:
Availability heuristic is understood as a mental shortcut; an individual gets immediate thoughts about a certain subject, avoiding any "delays" or much conversation about the topic. He/she just <em>gets to the point. </em>
In this case, <em>instead of circling around the refrigerator subject,</em> Ian immediately tells Susan that she can buy any except for the Icewall, and proceeds to explain his own personal experience.
Answer:
D
Explanation:
Only anarcho-capitalists believe that defense should be provided by private firms.
A more general approach is that there are primary and secondary functions in the state.
Primary functions are defense, legislation, judiciary, and so on. Basically this means that the state should provide public goods
Secondary functions might include non-public goods such as education, health, energy and so on.
A good rule of thumb is that when economist say "small" goverment they mean that it should only take care of it's primary functions
Answer: C
Explanation: I'm not certain, so it might be best to get a second opinion, but with modern technology, plus the corona virus outbreak unemployment rates have been higher than ever (with the exception of The Great Depression).
