Who Believed That Small Disturbances in Output,prices,or Unemployment Were Likely

question 97

Multiple Choice

Who believed that small disturbances in output,prices,or unemployment were likely to be magnified by the invisible hand of the marketplace?

• A)President Herbert Hoover.
• B)Adam Smith.
• C)John Maynard Keynes.
• D)Jean-Baptiste Say.

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Definitions:

Production Function

A mathematical relationship expressing the maximum output that can be produced from a given set of inputs.

Commodity

An elementary good in the business sector that can be interchanged with others of a like kind.

Profit

The financial gain achieved when the amount earned from selling goods or services exceeds the costs associated with production or procurement.

Speeding Ticket

A penalty issued by law enforcement to drivers exceeding the legal speed limit.