Answer to Question #132161 in Economics for Iqra

Question

1- Many modern economists use Adam Smith’s work to object to the notion of an activist
government. Explain the role of government according to Smith, listing the specific
functions that he envisioned appropriate for the government.
2- Explain Say’s law, discussing how it engaged with the classical economists of the time.
3- Present Quesnay’s graph and explain its working. Does it have any value to the
understanding and explanation of the modern economy?
4- Present various versions of theory of value preceding Marx. How is this related to
Ricardo’s theory of comparative advantage, historically and / or analytically?

Answer 1

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