Author Question: Adam Smith argued that each person in a competitive market is led to promote the A) efficient use ... (Read 150 times)

cnetterville · **on:** Jun 29, 2018

Adam Smith argued that each person in a competitive market is led to promote the

A) efficient use of society's resources, because each person's intention is to make society better off.
B) efficient use of society's resources, even though it is no person's intention to make society better off.
C) inefficient use of society's resources, even though each person's intention is to make society better off.
D) inefficient use of society's resources, because it is no person's intention to make society better off.

Question 2

Between August 2007 and July 2008, Brazil exported more than 3.5 billion pounds of coffee to the rest of the world. These exports mean that

A) Brazil has comparative advantage in coffee production.
B) the rest of the world has comparative advantage in coffee production.
C) the rest of the world has absolute advantage in coffee production.
D) Brazil has absolute advantage in coffee production.