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27 July, 16:54

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.

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  1. 27 July, 17:10
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    Answer and Explanation:

    b. a concept developed by Adam Smith to describe the virtues of free markets.
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