The term "invisible hand" was coined by
a. Adam Smith.
b. David Ricardo.
c. Karl Marx.
d. Benjamin Franklin.
a
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Under which of the following sets of circumstances is it definitely the case that the average product increases as more labor is hired?
A) Total product increases as more labor is hired. B) The marginal product is equal to the average product. C) The marginal product is positive. D) The marginal product is greater than the average product. E) The marginal product is less than the average product.
Scarcity is a temporary state of insufficiency that ends with new innovation
Indicate whether the statement is true or false
Centrally planned economies like China produce relatively little pollution.
Answer the following statement true (T) or false (F)
Recall the Application about how policymakers use stress tests to protect the financial system to answer the following question(s).According to this Application, after the financial crisis of 2008, former Treasury Secretary Timothy Geithner and his staff made a proposal that major banks and financial institutions be subjected to:
A. yearly audits. B. stress tests. C. regulation by Congress. D. None of these.