Adam Smith's term, "the invisible hand," refers to
a. the hidden role of government in setting regulations that govern trading in markets
b. the most capable entrepreneurs in the economy
c. market forces
d. the unseen work of the financial markets that facilitates trade
e. the role of technological change and random events in the economy
C
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What will be an ideal response?
What is marginal analysis?
Which of the following organizations is exempt from prosecution under the Sherman Antitrust Act (1890)?
A) retailers B) book publishers C) labor unions D) television stations
Classical macroeconomists think that the best models are ________ and that inflation expectations ________.
A. dynamic; do not matter B. static; do not matter C. dynamic; matter D. static; matter