Which statement best summarizes the invisible hand theorem?
A. Government policies direct people's selfish desires (tempered by social and economic forces) to the benefit of society.
B. Markets direct people's selfish desires (tempered by political and social forces) to the common good.
C. Cultural norms direct people's selfish desires (tempered by political and economic forces) to the common good.
D. Social, political, and economic forces act against people's selfish desires to promote the common good.
Answer: B
You might also like to view...
Based on the data in the table above, when Decent Donuts hires eight workers, the
A) average product of labor is greater than the marginal product. B) marginal product of labor is greater than the average product. C) marginal product of labor is equal to the average product. D) marginal product of labor is not defined.
What are the factors that contribute to productivity growth in the market economy and which of them is considered most important?
What will be an ideal response?
A dominant strategy is a strategy that is best for a player in a game regardless of the strategies chosen by the other players
a. True b. False Indicate whether the statement is true or false
Everything else equal, if the ratio of bank assets to bank capital decreases, the bank's return on equity should:
A. cannot be determined from the information provided. B. remain constant. C. increase. D. decrease.