The basic forces driving the “invisible hand” are
A. government and business.
B. information and computer technology.
C. competition and self-interest.
D. cooperation and altruism.
Answer: C
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In the United States, the working-age population refers to the:
A. civilian, noninstitutional population aged 16 and over. B. population of those aged 16 and over. C. civilian, noninstitutional population of those between age 16 and age 64. D. noninstitutional population of those between ages 16 and 64.
A perfectly price-discriminating monopolist:
A. captures some or all of the consumer surplus. B. shifts the demand curve for its product to the right by producing where MC = MR. C. will cause a greater welfare loss than will a monopolist that is not price-discriminating. D. increases both consumer surplus and producer surplus.
In a simple macroeconomic model, only one component of expenditures is allowed to change:
A. investment. B. consumption. C. net exports. D. government spending. E. transfer payments.
Global imbalances may be reduced by a reduction in excess savings.
Answer the following statement(s) true (T) or false (F)