Which of the Following Statements Does Not Apply to a Market

question 209

Multiple Choice

Which of the following statements does not apply to a market economy?

• A)Firms decide whom to hire and what to produce.
• B)The "invisible hand" usually maximizes the income of society as a whole.
• C)Households decide which firms to work for and what to buy with their incomes.
• D)Government policies are the primary forces that guide the decisions of firms and households.

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Definitions:

Future Events

Occurrences or situations that have not yet happened but are anticipated or expected to occur.

Collective Unconscious

A term coined by Carl Jung referring to the part of the unconscious mind that is shared by a society, a people, or all humankind and is the source of universally inherited ideas and patterns.

Core or Pattern

Core or pattern refers to the underlying structure or essence of a system, personality, or theory, often determining its characteristics and behaviors.

Id

In Freudian psychoanalytic theory, the part of the mind that is the source of instinctual impulses and demands for immediate satisfaction of basic needs.