The Idea That Markets Work Efficiently

question 76

Multiple Choice

The idea that markets work efficiently:

• A) refers to the fact that self-interest can be aligned with social interest.
• B) means that trade-offs can be reduced through channeling greed toward good ends.
• C) suggests that there is never any need for government regulation, taxes, or subsidies.
• D) has been known for many centuries.

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Definitions:

Obedience

Following the commands or guidance of an authority figure without questioning.

Confederates

Individuals who are part of a study's design and know the experiment's aims but pretend to be participants in order to manipulate situations as required by the research.

Confederate

An individual who is part of an experiment but pretends to be a participant while actually working for the researcher, used to manipulate social interactions as part of the experimental procedure.

Performing Arts

Forms of creative expression that are performed in front of an audience, such as music, dance, and theater.