The invisible hand refers to the:
A. fact that the U.S. tax system redistributes income from rich to poor.
B. notion that, under competition, decisions motivated by self-interest promote the social
interest.
C. tendency of monopolistic sellers to raise prices above competitive levels.
D. fact that government controls the functioning of the market system.
Answer: B
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Social Security is used to redistribute income.
A. True B. False C. Uncertain
What is the key feature shared by all oligopoly markets?
a. A large number of sellers. b. Mutual interdependence. c. Product differentiation. d. Easy entry and exit.
If Jorge is temporarily absent from his regular job because of an industrial dispute, the Bureau of Labor Statistics will classify him as unemployed
Indicate whether the statement is true or false
What percent of currency transactions involve a trade in the spot market?
a. 30% b. 40% c. 60% d. 90%