Question

Which of the following contributed to the success of free trade advocates during the Revolutionary War? a. Riots over inflation in the streets of Boston. b. Isaac Newton’s explanation of the law of gravity as applied to economics. c. The publication of Adam Smith’s The Wealth of Nations. d. Memories of the despised Intolerable Acts. e. The failure of wartime tariffs to solve the problem of the national debt.

Answer 1

Letter C is the correct answer.

The Wealth of Nations, Adam's Smith publication, was of great contribution to the success of free trade advocates during the Revolutionary War. Smith's writing contained ideas that had a major impact on the economy as a whole. Smith argued that freedom of production and exchange (free trade) was the answer that would lead countries to prosperity. According to him, governments should NOT interfere, otherwise it would result in surpluses and shortages.