The invisible hand refers to the coordination that occurs from:
A. a government agency finding efficiencies.
B. everyone working for the overall good of society.
C. everyone working in his or her own self-interest.
D. a government coordinating economic activity.
Answer: C
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Which of the following statements is true?
A) Lower wages are normally offered for jobs with better amenities. B) Jobs that are relatively risky pay a lower wage than other safer jobs. C) Educational qualifications and wage rates are negatively correlated. D) Incentives are normally higher for desirable occupations in comparison to undesirable occupations.
In a floating exchange rate system, an appreciation of the exchange rate could be caused by
a. a cut in taxes. b. a decrease in government spending. c. an increase in the domestic money supply. d. a decrease in the foreign demand for U.S. goods.