What famous economist said, "By pursuing his own interest he (an individual) frequently promotes that of the society more effectually than when he really intends to promote it?"
a. Alfred Marshall. b. Adam Smith.
c. Karl Marx. d. Robert L. Heilbroner.
b
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Refer to the above table. If real GDP is $12 billion, total planned expenditures and unplanned inventory changes are respectively
A) $12.4 billion and -$0.4 billion. B) $13.2 billion and -$0.8 billion. C) $0 and $14 billion. D) $12.4 billion and $0.4 billion.
Automobile manufacturers often use incentive programs, including special financing rates and cash rebates, to increase sales. However, a customer is usually restricted to choosing either the low financing rate or the rebate, but not both
Is this an example of price discrimination? If so, what type? Explain your reasoning.
One factor contributing to the rapid growth of the commercial paper market since 1970 is
A) the fact that commercial paper has no default risk. B) improved information technology making it easier to screen credit risks. C) government regulation. D) FDIC insurance for commercial paper.
Which set of actions will help three oligopolistic firms to achieve joint profit maximization?
a. They decide not to cooperate, and each pursues its individual self-interest. b. They decide to collude and to trust each other not to defect from the agreement. c. They sign a cartel agreement, and then each firm cheats on it. d. They choose a dominant firm, and then they take turns being the price leader.