Question

14 what would adam smith say about this situation? the economy has taken a turn for the worse. the president wants to get the government involved by passing new laws regulating trade a smith would say to pass laws but with limited involvement by the government. b smith would say to pass the laws for a short period of time. c smith would say to have no government interference. d smith would say to have the government take complete control of the economy.

Explanation:

Adam Smith, known as the father of modern economics, advocated for a free - market economy with minimal government intervention. He believed that the "invisible hand" of the market would guide economic activity efficiently. So in a situation where the president wants to involve the government by passing new trade - regulating laws, Smith would be against government interference in the economy. Option A suggests limited government involvement, but Smith was more in favor of no interference. Option B's idea of passing laws for a short time also goes against his free - market principles. Option D, which proposes the government take complete control, is the opposite of what Smith believed. Only option C aligns with his view of no government interference in the economy.

Answer:

C. Smith would say to have no government interference.