Which of the following is not an idea advocated by Adam Smith?
a. Businesspersons conspiring to fix prices are a threat to the price system.
b. Pursuit of private self interest with an invisible hand is the best way to promote the public interest.
c. Government should control the economy.
d. The government should provide for national defense and little else.
c
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Refer to Table 16-2. Which of the following statements is true about the two markets?
A) The demand in Middle Fall is less income elastic than the demand in West Fall. B) The demand in Middle Fall is more price elastic than the demand in West Fall. C) The demand in Middle Fall is more income elastic than the demand in West Fall. D) The demand in Middle Fall is less price elastic than the demand in West Fall.
In the face of capital outflow, countries had to lower interest rates to stay in the ERM
Indicate whether the statement is true or false