All of the following concepts are related EXCEPT
A. Competition.
B. Government planning and regulation.
C. The invisible hand.
D. The price mechanism.
B. Government planning and regulation.
Economics
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If the Fed wants to increase bank reserves, it can:
A. Buy bonds. B. Raise the discount rate. C. Raise the reserve requirement. D. Sell bonds.
Economics
Assume that a cargo ship carrying the merchandise of a cloth merchant has been wrecked. Such a setback will be accounted as the merchant's:
a. sunk cost. b. deadweight loss. c. marginal cost. d. opportunity cost.
Economics