sometimes referred to as the father of economics, ______________ wrote wealth of nations in 1776.\ndavid…

sometimes referred to as the father of economics, ______________ wrote wealth of nations in 1776.\ndavid hume\njohn stuart mill\nadam smith\nkarl marx\nquestion 2\n1 pts\nwhich of the following is a positive statement?\nthe president of the united states ought to be elected by a direct vote of the american people rather than the electoral college.\nall other options\na fundamental assumption of the economic theory of consumer behavior is that consumers always prefer having more of any good to having less of it.\nbecause many adults cannot afford to go to college, tax credits for tuition should be introduced.\nnone of other options

sometimes referred to as the father of economics, ______________ wrote wealth of nations in 1776.\ndavid hume\njohn stuart mill\nadam smith\nkarl marx\nquestion 2\n1 pts\nwhich of the following is a positive statement?\nthe president of the united states ought to be elected by a direct vote of the american people rather than the electoral college.\nall other options\na fundamental assumption of the economic theory of consumer behavior is that consumers always prefer having more of any good to having less of it.\nbecause many adults cannot afford to go to college, tax credits for tuition should be introduced.\nnone of other options

Answer

Brief Explanations:

  1. Adam Smith is known as the Father of Economics and wrote Wealth of Nations in 1776.
  2. A positive statement in economics is a factual statement that can be tested or verified. The statement about consumer behavior preference is a positive - it's a description of how consumers are assumed to act in economic theory. Statements about what "ought to be" (like the presidential election method and tax - credit introduction) are normative statements.

Answer:

  1. C. Adam Smith
  2. C. A fundamental assumption of the economic theory of consumer behavior is that consumers always prefer having more of any good to having less of it.