According to the Invisible Hand Concept,the Best Way for a Society

question 224

Multiple Choice

According to the invisible hand concept,the best way for a society to encourage the creation of jobs and the production of the products most wanted by consumers would be to:

• A)Permit government owned industries,such as telecommunications,transportation,and energy,and operate these firms as nonprofit organizations.
• B)Allow private ownership of businesses,but make use of extensive regulation to force businesses to behave in a socially desirable way.
• C)Allow entrepreneurs personal freedom to follow their own self-interest.
• D)Impose high taxes on individuals,and use the revenue to subsidize businesses to encourage them to produce the maximum rate of output.

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Definitions:

Linear Association

The relationship between two variables that can be represented accurately using a straight line in a scatterplot.

Positive Association

A relationship between two variables where an increase in one variable is associated with an increase in the other variable.

Strong Association

A term indicating a high level of correlation between two variables, suggesting that changes in one are closely linked to changes in the other.

Nonlinear

Referring to a relationship or equation that does not form a straight line when graphed, often indicating a more complex relationship between variables.