Invisible hand principle
What will be an ideal response?
Market prices coordinate the actions of self- interested individuals and direct them toward activities that promote the general welfare
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An increase in the money wage rate
A) increases the long-run aggregate supply. B) decreases the long-run aggregate supply. C) increases the short-run aggregate supply. D) decreases the short-run aggregate supply.
Currently in the United States, resale price maintenance agreements ________ illegal per se and ________ judged using the rule of reason approach.
A) are not; are not B) are; are C) are not; are D) are; are not
Flexible, or floating, exchange rate is determined by the:
a. World Bank. b. forces of supply and demand. c. price of gold. d. Federal Reserve.
Pure public goods involve positive externalities.
A. True B. False C. Uncertain