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The "invisible hand" works to promote general well-being in the economy primarily through people's pursuit of self-interest. therefore, Option A is the correct statement.
<h3>How does the Invisible Hand work?</h3>
The invisible hand is a part of laissez-faire, which means the "let do/permit go," method in the marketplace. In different words, the method holds that the marketplace will discover equilibrium without authorities or different interventions forcing it into unnatural patterns.
The complete information about the question is given below:
a. people's pursuit of self-interest.
b. the political process.
c. government intervention.
d. altruism.
therefore, The "invisible hand" works to promote general well-being in the economy primarily through people's pursuit of self-interest. Option A is the correct statement.
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Answer: Please see explanation column for answers
Explanation:
Journal entry to record Renfro's contribution to partnership.
Account Titles and Explanation Debit Credit
Cash $ 20,000
Patent $92,000
Accounts receivables $45,000
Accounts payable $ 14,000
Allowance for doubtful accounts $ 3,000
Holly Renfro, capital $ 140,000
[20,000 + 92,000 + 45,000 - 14000 - 3,000} = $140,000