The invisible hand theorem comes from:
A. sociology.
B. political science.
C. macroeconomics.
D. microeconomics.
Answer: D
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Suppose the market for Blu-rays has the demand and supply schedules shown in the table above. Suppose a technological advance increases the quantity of disks supplied at each price by 25 million
What is the new equilibrium price and the new equilibrium quantity of Blu-rays?
The table above gives production information for Bob's Baseball Cap Company. Bob's total cost when zero caps are produced is $200 and workers cost $10 per hour. The total fixed cost of producing 10 baseball hats per hour is
A) $400 B) $200 C) $22 D) More information is needed to answer the question.
The Laspeyres price index tends to ________ the ideal cost-of-living index
A) be higher than B) be lower than C) be equal to D) zero faster than
In Figure 5.2, the fact that real GDP is greater than nominal GDP during the 1960-1980 periods implies thatÂ
A. Per capita GDP must have increased. B. Production must have decreased during this period. C. Average price levels must have decreased during this period. D. Average price levels during this period must have been lower than during the base period.