Question
24.The idea of invisible hand explains that society's interests are satisfied because: A. individuals pursuing their self-interest will direct the resources to the production of
24.The idea of "invisible hand" explains that society's interests are satisfied because:
A. individuals pursuing their self-interest will direct the resources to the production of goods and services that people want and are willing to purchase.
B. individuals are altruistic, or unselfish, and they will produce goods and services for others.
C. it guarantees that individuals will win in competition.
D. government sets the right amount of goods and services to be produced.
25.According to the circular flow graph, if businesses pay $150 for the resources and households get $50 for wage, and $40 for interest, and $30 profit for entrepreneurship. How much is the rent?
A. $10
B. $20
C. $30
D. none of above.
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