Question

Which of the following is a true statement?

Socialists like Adam Smith believed the competition typical of capitalism was wasteful.

Capitalists like Thomas Malthus believed poverty could be entirely eliminated from society.

Socialists like Robert Owen favored a more even distribution of income.

Marxists like David Ricardo argued that wages vary inversely with profits.

Answer 1

Arthur Laffer was formerly the Distinguished University Professor at Pepperdine. He also held the status as the Charles B. Thornton Professor of Business Economics at the University of Southern California from 1976 to 1984.

Answer 2

C

Answer 3

thank you @scapeplan !! and thank you @PikedPro