The "invisible hand" is
a. used to describe the welfare system in the United States.
b. a concept developed by Adam Smith to describe the virtues of free markets.
c. a concept used by J. M. Keynes to describe the role of government in guiding the allocation of resources in the economy.
d. a term used by some economists to characterize the role of government in an economy - inevitable but invisible.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “The "invisible hand" is a. used to describe the welfare system in the United States. b. a concept developed by Adam Smith to describe the ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Bi that is designed to determine the most likely effects of changes in the business environment is called
Answers (1)
What is the purpose of a free-market system? A. To protect the conditions that enable specialization B. To stimulate the growth of the gross domestic product C. To raise the standard of living for everyone in the country D.
Answers (2)
Which of the following is true? Question 1 options: Cost of Goods Sold includes only units that are finished during the period.
Answers (1)
On October 1, Goodwell Company rented warehouse space to a tenant for $2,500 per month. The tenant paid five months' rent in advance on that date, with the lease beginning immediately. The cash receipt was credited to the Unearned Rent account.
Answers (1)
Exercise 6-4 Computing and Using the CM Ratio [LO6-3] Last month when Holiday Creations, Inc., sold 36,000 units, total sales were $317,000, total variable expenses were $259,940, and fixed expenses were $36,200. Required: 1.
Answers (2)
New Questions in Business
Which investment has the highest liquidity and can be converted into cash easily? A - bonds B - mutual funds C - stocks D - certificates of deposit
Answers (2)
Suppose the Fed raises the required reserve ratio, a move that is normally thought to reduce the money supply.
Answers (1)
Alex contests for a local political office and makes a lot of promises to people. But after he wins the election and takes office, he is unable to carry out the political promises. In the given scenario, which leadership traits does Alex lack?
Answers (1)
You observe a portfolio for five years and determine that its average return is 12.5 % and the standard deviation of its returns in 19.5 %. Would a 30% loss next year be outside the 95% confidence interval for this portfolio?
Answers (1)
Pronghorn Company's income statement for the year ended December 31, 2020, contained the following condensed information.
Answers (1)