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Author Question: In An Inquiry into the Nature and Causes of the Wealth of Nations, Adam Smith listed three reasons ... (Read 74 times)

Deast7027

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on: Jun 30, 2018
In An Inquiry into the Nature and Causes of the Wealth of Nations, Adam Smith listed three reasons for productivity to increase with specialization. What are these three reasons?
 
  What will be an ideal response?

Question 2

Genovia produced 10 million tonnes of wheat in a particular year. However, 1 million tonnes got infested with pests and had to be thrown away. How will this affect the calculation of the gross domestic product of the country for that year?
 
  What will be an ideal response?
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kxciann

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Reply #1 on: Jun 30, 2018
Answer to Question 1

repetition, continuity, innovation

Answer to Question 2

The quantity of wheat that had to be thrown away will not affect the calculation of GDP since depreciation is not included in the calculation of GDP.


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