The following concepts are related EXCEPT for the following:
A. "The invisible hand"
B. Government regulations
C. A government "five-year plan"
D. Government planning
A. "The invisible hand"
You might also like to view...
Relative to the short-run demand for gasoline, the long-run demand for gasoline is
A) probably more elastic since people need time to change automobiles and driving habits. B) probably less elastic since people need time to change automobiles and driving habits. C) probably more elastic because people can hoard this good. D) probably less elastic because people cannot store this good.
Consider the production possibilities frontier displayed in the figure shown. Which of the following statements is true? The opportunity cost of one watermelon:
A. will decrease as more watermelons are produced.
B. is constant.
C. will increase as more watermelons are produced.
D. is zero at point C.
The cost of owning a government bond is ____________, and the benefit of owning one is ______________.
A. that it is as liquid as cash; interest earned B. interest earned; that it is not very liquid C. that it is highly liquid;interest charged D. interest charged; that it is not very liquid
If Japan can produce each unit of steel using fewer resources than Canada uses,
a. Canada has an absolute advantage in steel production b. Japan has a comparative advantage in steel production c. Canada has a comparative advantage in steel production d. Canada may have an absolute advantage in producing steel e. Japan has an absolute advantage in steel production