What significant event occurred in the Economic Timeline in 1723?
A. The Gold Standard was established.
B. Adam Smith was born.
C. China printed the first paper money.
D. The first metal coins appeared.
What significant event occurred in the Economic Timeline in 1723?
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The correct answer is B. Adam Smith was born.
Adam Smith, who would become a prominent economist and philosopher, was born in 1723. He is best known for his work “The Wealth of Nations,” published in 1776, which laid the foundations for classical economics and introduced key concepts such as the division of labor and the invisible hand. The other options refer to events that occurred at different times in history.