Exercise 7. Answer the questions.

1. What is Adam Smith?

2. When and where was he born?

3. What was his first academic appointment?

4. What work did he devote 10 years of his life?

5. What was the title of the book?

6. What problems did the book deal with?

7. A. Smith laid the basic principles of taxation, didn’t he?

8. Who did put forward the theory of overpopulation?

9. Why do we speak about A. Marshal as a great economist?

10. What do we know thanks J.M. Keynes?