Adam Smith's theory of the invisible hand posits the actions of independent, self-interested buyers and sellers will ________ lead to the most efficient allocation of resources.
A. rarely
B. always
C. often
D. never
Answer: C
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Explain the structure of the Federal Reserve System
What will be an ideal response?
An individual with a constant marginal utility of income will be
A) risk averse. B) risk neutral. C) risk loving. D) insufficient information for a decision
An advantage of monetary policy over fiscal policy is the:
A. decisions are made by politicians, not experts in finance, banking, and monetary policy. B. decision makers are under political pressures. C. decision makers cannot change and enact policy quickly. D. decisions are made by experts who are independent of political pressures.
Suppose the annual growth rate of GDP in Nepal is 5 percent. In 35 years, GDP in Nepal will double:
A. 1.75 times. B. 2.5 times. C. 7 times. D. 24.5 times.