Social and political forces affect the way in which the invisible hand works.
Answer the following statement true (T) or false (F)
True
Social and political forces place cultural and legal limits on how the market mechanism works.
Economics
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Explain why an external cost leads to an over-allocation of resources to the production of a good
What will be an ideal response?
Economics
If some resources used in the production of a good are only available in limited quantities, then the long run market supply curve will be perfectly elastic
a. True b. False Indicate whether the statement is true or false
Economics
If there is a surplus in the U.S. loanable funds market, then
a. NCO > I. b. NCO < I. c. NCO + I > S. d. NCO + I < S.
Economics
What is expansionary fiscal policy? What is contractionary fiscal policy?
What will be an ideal response?
Economics