Adam Smith's invisible hand is now called
A. The market mechanism.
B. Economic growth.
C. Opportunity cost.
D. Laissez faire.
Answer: A
You might also like to view...
Nathan drinks three cups of coffee per day. The marginal benefit that he enjoys from drinking the third cup is
A) less than the marginal benefit that he receives from drinking the second cu
In the above table, the inflation rate between 2014 and 2015 is approximately
A) 10 percent. B) 11 percent. C) 121 percent. D) None of the above answers is correct.
Nontradables are cited as a reason why purchasing power parity doesn't hold because:
A. goods that you can't transport cannot be sold for a profit elsewhere, even if the price differs in different locations. B. there is no economic opportunity to profit if the goods cannot be sold in another market for another price. C. location-specific goods are impossible to calculate a price elsewhere for. D. All of these statements are true.
The vertical intercept of the consumption function is used to determine the break-even level of real disposable income
a. True b. False Indicate whether the statement is true or false