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Adam Smith's idea of the "invisible hand" tries to convey the idea that while there are free markets and people conduct their economic affairs in their own best interests,
A) any country can become an advanced, industrialized nation.
B) markets will eliminate problems of hunger and dissatisfaction.
C) most inequalities between the rich and the poor will be eliminated.
D) the overall economy will work well.
What is the profit-maximizing price and output? What is the total profit? What is the price elasticity of demand at the profit maximizing output?
How much of a shortage or surplus of gasoline would result? Calculate the effects of this policy in terms of the changes in consumer surplus and producer surplus.
"When the British government tripled university fees for foreign students in Great Britain, about one-half of them left to study in other countries." What is the implied price elasticity of demand by foreigners for a British education is (in absolute..
Physical capital, Natural resources, Human Capital and Technical Knowledge, should it be Government policy to subsidize the production or acquisition of all or these?
What is the cost of producing additional car when 50 cars are being produced? What is the cost of producing additional care when 150 cars are being produced?
Describe the state of Black America in only one or two words, what would they be and why?
Create a graph of that charts out the Federal Surpluses / Deficits and Real GDP in each year from 1965 to 2011. (Be careful with the Surplus / Deficit data, since there is an additional entry to account for a change in how the data ..
There are accurate statments about the debt problem in LCDs EXCEPT that is in some countries, debt is greater that GDP or else.
‘The UK courts have generally been too willing to accept the absolute supremacy claim of the Court of Justice of the EU, but the Supreme Court decision in the HS2 case (R (on the application of HS2 Action Alliance Limited) v Secretary of State for..
the grocery store next door provide an offers to double coupon night for Senior Citizens.
Alan and Brian work at a baseball and softball manufacturing plant. Alan can produce either 10 baseballs or 4 softballs in an hour. Brian can produce either 8 baseballs or 2 softballs in an hour. What is the hawala network?
You are the manager of a small U.S. firm that sells nails in a competitive U.S. market (the nails you sell are a standardized commodity; stores view your mails as identical to those available from hundreds of other firms).
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