Adam Smiths theory of the invisible hand posits the actions of independent, self-interested buyers and sellers will ________ lead to the most efficient allocation of resources.
A. never
B. rarely
C. often
D. always
Answer: C
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If the price of a DVD falls,
i. the demand curve for DVDs will shift rightward. ii. the demand curve for DVDs will not shift. iii. there will be a movement along the demand curve for DVDs. A) i only B) ii only C) iii only D) ii and iii E) i and iii
In the long run, a country will experience an increasing standard of living only if it experiences
A) a high rate of consumption. B) a slow rate of population growth. C) continuous technological change. D) a high rate of labor force growth.
If a firm raises funds by recruiting additional owners to invest in the firm,
A) the firm's stock price would decrease. B) the firm's financial capital would increase. C) the firm's financial capital would decrease. D) the firm's net worth would decrease.
The simplest money-creation multiplier is equal to
A) eD. B) H/e. C) 1/e. D) e/H. E) H/D.