Asked by
Kenneth Reina
on Oct 13, 2024Verified
The economist who argued that most prices in our mixed economy are set by the nation's largest corporations was
A) Adam Smith
B) Karl Marx
C) John Maynard Keynes
D) John Kenneth Galbraith
John Kenneth Galbraith
John Kenneth Galbraith was an influential Canadian-American economist and public intellectual who contributed significantly to the development of modern economic thought, particularly in the areas of consumer behavior, public policy, and economic history.
Mixed Economy
An economic system that combines private and public enterprise, incorporating elements of both capitalism and socialism.
Adam Smith
A Scottish economist, philosopher, and author who is considered the father of modern economics and is best known for his book "The Wealth of Nations."
- Gain insight into the operation of the price mechanism and its importance in economies based on capitalism.
Verified Answer
HK
Learning Objectives
- Gain insight into the operation of the price mechanism and its importance in economies based on capitalism.