The concept of "the invisible hand" suggests that markets
A) do not produce the efficient quantity.
B) are always fair.
C) produce the efficient quantity.
D) are unfair.
E) allocate resources unfairly and inefficiently.
C
You might also like to view...
In the aggregate supply-aggregate demand model, if every person in the economy correctly anticipates the inflation rate, the unemployment rate will
A) be less than the natural rate of unemployment. B) be more than the natural rate of unemployment. C) equal zero. D) equal the natural rate of unemployment.
As job opportunities for women and the wages those jobs pay have increased, the opportunity cost of doing housework has ________, so many families have chosen to hire specialists in households chores, such as cleaning services and lawn care services
, because the cost of these specialists is ________ than the cost of the wife (or husband) performing those chores. A) decreased; lower B) increased; higher C) decreased; higher D) increased; lower
The Federal Reserve can tightly control
a. cash in the hands of the public b. cash in the hands of the public and demand deposits c. demand deposits d. funds in savings accounts and checking accounts e. borrowing by the government
When a U.S. citizen invests in foreign assets, the transaction is recorded in the balance of payments as a
a. credit in financial account. b. debit in the financial account. c. credit in the current account. d. debit in the current account.