In his concept of “the invisible hand,” Adam Smith explains that
A. if each person looks out for himself or herself, then chaos will inevitably ensue.
B. the pursuit of self-interest promotes economic well-being for society as a whole.
C. governmental rule actually results in greater good than is apparent at the time.
D. traditional religion is an appropriate guide for human behavior.
E. All of the responses are correct.
Answer: B
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Deleveraging is the process of reducing leverage, and therefore reducing the risk to capital from any further declines in asset prices
a. True b. False.
Which is the main disadvantage of using shells as money instead of coins?
a. durability b. portability c. uniformity d. divisibility
In the perfectly competitive market, all firms in the market are assumed to be producing:
A. identical products. B. differentiated products. C. products that are heavily advertised. D. complementary products.
If the government has a balanced budget, the total amount of government debt is...
What will be an ideal response?