A country wants to promote economic growth by giving companies more freedom. It cuts taxes on corporations, eliminates environmental regulations,
and makes it easier to start new businesses. The government tries to limit its
involvement in economic issues as much as possible.
This situation best reflects the influence of which economic thinker?

Adam Smith

Explanation:

Adam Smith lived in the 18th century.  He was Scottish, a decorated philosopher, economist, and author. Many view him as the father of modern economics.

Adam Smith was a principal advocate of the market economy. In his book, ''The Wealth of Nations," Adam emphasized that the individual's need to satisfy self-interest has more societal benefit. Adam Smith wrote this book at a time when markets were heavily regulated by the state, church, and trading societies . He argued that removing unnecessary interference would permit trade to flourish and prosper.  Although Smith advocated for individual profits maximization and low trade barriers, he also saw to need for government to participate through regulation. Smith thought that the government had a big role in education and the country's defense.  

Smith believed that competition in business ensures that private firms driven by profit motive will produce their goods at the lowest possible cost. This benefits society and ensures markets use resources efficiently.

Smith is also accredited with developing the gross domestic product (GDP) concept and the theory of compensating wage differentials.

answernet income for 2017 will be greater if the inventory quantity declines;