Adam Smith's Theory of the Invisible Hand Posits the Actions

question 33

Multiple Choice

Adam Smith's theory of the invisible hand posits the actions of independent, self-interested buyers and sellers will ________ lead to the most efficient allocation of resources.

• A)always
• B)often
• C)rarely
• D)never

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Definitions:

Observational Learning

Learning by observing others.

Spontaneous Recovery

The reappearance, after a pause, of an extinguished conditioned response.

Respondent Behavior

Behavior that occurs as an automatic response to some stimulus.

Generalization

The tendency, once a response has been conditioned, for stimuli similar to the conditioned stimulus to elicit similar responses.