The invisible hand is a notion from:
a. Marx
b. Ricardo
c. Keynes
d. Mises
e. none of the above
E
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What is a balance of payments system, and what three types of international transactions are typically found in the balance of payments?
What will be an ideal response?
The income elasticity of demand for skiing trips to Vermont is greater than one. Thus a trip to Vermont for skiing is ________ good
A) a normal B) an inferior C) a unit elastic D) a price elastic E) a price inelastic
New growth theory is concerned with
A) finding a good way to measure economic growth. B) increasing the savings rate in the U.S. C) understanding the forces that increase productivity. D) understanding how compounding works.
Firms will be much more willing to consent to significant wage increases when
a. right-to-work laws are present. b. the demand for the final product is weak. c. the firm has low product inventory. d. the demand for the final product is elastic.