Every day people rely on the work of others to provide us with food, clothing, and shelter. These people work for our benefit because:
A) people think at the margin.
B) trade-offs are everywhere.
C) they benefit by doing so.
D) institutions require them to do so.
Correct Answer:
Verified
Q6: Adam Smith's "invisible hand" refers to:
A) people's
Q7: The basic postulate of economics indicates that
Q8: Which financing method for transporting prisoners from
Q9: Economists think that people are self-interested:
A) only
Q10: If there was no _, the "invisible
Q12: In his book The Wealth of Nations,
Q13: Adam Smith coined the term "invisible hand"
Q14: Recall Chapter 1's opening story about the
Q15: The main incentive for business activity is:
A)
Q16: In the 1800s, the federal government paid
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