Adam Smith's Wealth of Nations, written in 1776, describes the market's invisible hand representing the

A) King of England's control over the colonies.
B) control all governments have in organizing the market.
C) efficiency the market achieves without the interference of governments.
D) inefficiency of markets when governments do not organize them.
E) invisible command system that efficiently allocates resources.


C

Economics

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Which of the following effects will not increase (i.e., shift to the right) the aggregate supply curve?

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Economics

Suppose the demand for hard-wood flooring increases, while the demand for wall-to-wall carpeting decreases. Based on this change in consumer tastes, the demand for hard-wood-flooring factory workers in North Carolina increases, while the demand for carpet factory workers in Georgia decreases. This is an example of

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According to purchasing-power parity, if it took 58 Indian rupees to buy a dollar today, but it took 55 to buy it a year ago, then the dollar has

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Economics