Social and political forces affect the way in which the invisible hand works.
Answer the following statement true (T) or false (F)
True
Social and political forces place cultural and legal limits on how the market mechanism works.
Economics
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Suppose that the interest rate paid to savers increases. As a result, Tom wishes to save less. This suggests that, for Tom,
A) the substitution effect is greater than the income effect. B) the income effect is greater than the substitution effect. C) utility maximization is not occurring. D) future consumption is a luxury.
Economics
Which of the following is the most liquid asset?
a. a certificate of deposit b. a government bond c. a share of corporate stock d. a checking account balance e. fine jewelry
Economics