Characteristics of the "invisible hand" concept include all of the following, except
A) Simple markets.
B) Individuals and firms pursue their own self-interest without any central direction or regulation.
C) A complete lack of government involvement in the economy.
D) All of the choices are characteristics of the "invisible-hand."
Correct Answer:
Verified
Q61: An example of a public good would
Q63: In the former Soviet Union most goods
Q64: Which statement is true?
A)Externalities and public goods
Q65: Statement I.Pollution is an example of market
Q66: Statement I.Market failure rarely happens under capitalism.
Statement
Q70: When our resources are NOT allocated efficiently,we
Q71: Externalities consist of _.
A)only external costs
B)only external
Q73: Which does not fit with the others?
A)Competition
B)Government
Q79: Statement I.There are several public goods that
Q80: Externalities may be internalized by
A)government-imposed taxes and
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