According to the Invisible Hand Concept,the Best Way for the Government

question 136

Multiple Choice

According to the invisible hand concept,the best way for the government to encourage the creation of jobs and the production of the products most wanted by consumers would be to:

• A)take over the operation of all firms in major industries,such as telecommunications,transportation,and energy,and operate these firms as non-profit organizations.
• B)allow private ownership of businesses,but make use of extensive regulation to force businesses to behave in a socially desirable way.
• C)allow entrepreneurs a great deal of personal freedom to follow their own self-interest.
• D)impose high taxes on individuals,and use the revenue to subsidize businesses to encourage them to produce the maximum rate of output.

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Definitions:

Biological Determinants

Factors related to biological processes and genetics that significantly influence an individual's characteristics and behavior.

Neurotic Crisis

A psychological situation in which an individual experiences acute stress or anxiety, often leading to dysfunction or emotional disturbance.

Oedipal Complex

A concept in psychoanalytic theory that describes a child's feelings of desire for the opposite-sex parent and jealousy and envy toward the same-sex parent, as part of normal childhood development.

Childhood Experiences

Events or interactions in one's early years that significantly impact their development, personality, and psychological health.