The classical economists attacked which of the following mercantilist propositions
A. state action was necessary to direct the capitalist system.
B. money had no intrinsic value.
C. the wealth of a nation was closely linked to the country’s stock of precious metals.
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Classical political economy has come up 27 times in 4 exams since 2010.
This question is on Mercantilism and physiocracy, part of Classical political economy in Macroeconomics.
The pre-classical schools: wealth as trade surplus, and wealth as the product of agriculture.
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Question from the JNU SIS 2019 paper. Solutions are TestStop's own. Not affiliated with or endorsed by any examination authority.