The term “laissez-faire” was given to a system of free markets by

A. twentieth-century American economists.
B. a seventeenth-century Scottish economist.
C. eighteenth-century French economists.
D. nineteenth-century Italian economists.

Answer: C

Economics

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In its long-run equilibrium, a firm in monopolistic competition

A) makes zero economic profit and operates with excess capacity. B) makes zero economic profit and produces above capacity output. C) makes a positive economic profit and operates with excess capacity. D) makes a positive economic profit and produces above capacity output.

Economics

Why might a group of countries wish to have a common currency? Explain four reasons

What will be an ideal response?

Economics