Adam Smith, in his work The Wealth of Nations, published in 1776, sought to show that: I. The application of labor in the international area allowe...

Adam Smith, in his work The Wealth of Nations, published in 1776, sought to show that: I. The application of labor in the international area allowed for the specialization of production combined with exchanges between nations. BECAUSE II. Contributing to the improvement of the well-being of populations. Selected Answer: Statement I is true and statement II justifies I. Answers: a. Statement I is true and statement II is false. Statement I is true and statement II justifies I. Statements I and II are true. d. Statements I and II are true, but II does not justify I. e. Statements I and II are false. Comment Answer: Option B Comment: Smith's ideas gave rise to what we call the theory of absolute advantages, which consisted of each country concentrating on what it can produce at the lowest cost and exchanging part of this production for articles that cost less in other countries. Allowing for the specialization of production and contributing to the improvement of the well-being of populations.


a. Statement I is true and statement II is false.
b. Statement I is true and statement II justifies I.
c. Statements I and II are true.
d. Statements I and II are true, but II does not justify I.
e. Statements I and II are false.