Invisible hand is a term used by the economist ______ in his 1776 book An Inquiry into the Nature and Causes of the Wealth of Nations
Fill in the blank(s) with correct word
Adam Smith
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The major advantage of the corporation is
A. limited liability for owners. B. greater profit incentive than the other forms of business organization. C. lower taxes for owners, who are taxed only once. D. ability of owners to have hands-on management of the firm.
A focus on economic profit
A) will change the behavior of the firm. B) will cause a management turnover. C) will cause stock prices to fall. D) will created on added value.
The sign of the price elasticity coefficient for a normal good will:
A. always be negative. B. always be positive. C. be positive if demand is elastic but negative if demand is inelastic. D. be positive if demand is inelastic but negative if demand is elastic.
Nonresidential structures, durable equipment, residential structures, and inventories are the major categories of
A. human capital. B. social capital. C. intangible capital. D. tangible capital.