Suppose That You Study Hard, Master the Principles of Economics

question 171

Multiple Choice

Suppose that you study hard, master the principles of economics, and earn a good grade in your economics class. This is an example of a good institution because:

• A) your school is selective; not everyone can get in.
• B) your self-interest in getting good grades aligns with the social interest of having people who understand economics.
• C) everybody gets good grades.
• D) sometimes the invisible hand is absent, not just invisible.

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The immediate physical and social setting in which people live or in which something happens or develops, including the culture that the individual was educated or lives in.

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