Question

Which of the following statements are true with regard to Adam Smith
(A) He is known as founding father of Modern Economics
(B) He authored the Book," Principles of Macro Economics".
(C) "An Enquiry into the Nature and cause of the Wealth of Nations" is his celebrated work
(D) Adam Smith gave the noted concept of 'Positivism
(E) He was a professor at the University of Glasgow.
Choose the correct answer from the options given below:

• A. (A), (B) and (C) only
• B. (A), (C) and (E) only
• C. (B), (C) and (D) only
• D. (A), (B) and (D) only

Hint:

When faced with multiple-statement questions, go through each statement one by one and mark it as true or false. This systematic approach helps in eliminating incorrect options and arriving at the correct combination.

Answer 1

The Correct Option is B

Step 1: Evaluating Each Statement about Adam Smith:


(A) He is known as founding father of Modern Economics: This is True. His work laid the foundation for classical free market economic theory.
(B) He authored the Book," Principles of Macro Economics": This is False. His main work was "The Wealth of Nations". "Principles of Macroeconomics" is a generic title for modern textbooks; the field of macroeconomics as a distinct discipline did not exist in his time.
(C) "An Enquiry into the Nature and cause of the Wealth of Nations" is his celebrated work: This is True. Published in 1776, it is his magnum opus.
(D) Adam Smith gave the noted concept of 'Positivism': This is False. Positivism is a philosophical theory primarily associated with the French philosopher Auguste Comte.
(E) He was a professor at the University of Glasgow: This is True. He held the position of Professor of Moral Philosophy at the University of Glasgow from 1752 to 1764.

Step 2: Identifying the Correct Combination:
The true statements are (A), (C), and (E).

Step 3: Final Answer:
The option that includes only the true statements is (B).