Adam Smith’s

timer Asked: Nov 11th, 2015

Question description

Dear students,

 Choose on the topics below and write a 5 page APA paper, double spaced, 12 font, 1 inch margin (top, bottom, left and right), and use at least three (3) sources. Kindly remember that the written assignment can be submitted any time until November 30th

Prof. Auguste

  1. Explain Adam Smith’s law of invisible hand and discuss it application in our current market economy.
  1. The consumer price index (CPI) is one of the most discussed topics in macroeconomics. Certain social scientists contend that it measures the average change over time in the prices paid by urban consumers while others argue that it does not depict our standard of living. Define CPI, explain how it is computed, discuss whose buying habits it reflects, and argue whether or not CPI is a cost-of-living index?
  1. Define David Ricardo’s law of comparative advantage, explain its assumptions, and discuss how it leads to gain through specialization and trade

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