Adam Smith
A. wrote The Wealth of Nations.
B. said that the entrepreneur is motivated by self-interest.
C. coined the term "the invisible hand," which means that the profit motive guides economic resources which effectively promotes the public interest.
D. All of the statements about Adam Smith are true.
D. All of the statements about Adam Smith are true.
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With respect to redistribution, one reason "The Big Tradeoff" exists is because
A) government programs employ resources that could have been productive elsewhere. B) government policymakers must choose between funding the various programs. C) government programs only employ resources that had no value to society otherwise. D) government programs only pay workers their opportunity cost.
An advantage of a negative income tax is that there are no disincentives to earning additional income
a. True b. False
Starting from equilibrium in the money market, suppose the money supply increases. Other things being equal, this will cause an excess demand for money, leading people to sell bonds
a. True b. False Indicate whether the statement is true or false
Which one of the following is normally the cheapest way to address water shortages?
a. Expanded development of groundwater aquifers b. Desalination c. Building dams d. Water conservation efforts e. Creating a system of property rights