Author Question: _____ is contrary to a laissez-faire economic system. a. Active government intervention in all ... (Read 40 times)

sdfghj · **on:** Jun 30, 2018

_____ is contrary to a laissez-faire economic system.
a. Active government intervention in all economic decisions
b. Reliance on prices to adjust to changing market conditions
c. The theory put forward by classical economics
d. The theory introduced by neoclassical economics
e. The market acting as an invisible hand

Question 2

If a firm hires labor for 20,000, pays rent of 12,000, buys raw materials for 6,000 from another firm, earns profits of 3,000, and sells its output for 41,000, the value added by the firm is _____.
a. 0
b. 15,000
c. 35,000
d. 38,000
e. 41,000