What type of policies did Adam Smith attack in his book, An Inquiry into the Nature and Causes of the Wealth of Nations?

A given increase in demand will raise the equilibrium quantity exchanged: a. unless supply is perfectly inelastic

b. more in the long run than in the short run. c. in the market for normal goods. d. all of the above

Suppose that the income elasticity of demand for college education is 1.3 . This indicates that

a. college education is a necessity b. college education is an inferior good c. the demand curve for college education slopes downward d. college education is a normal good e. the demand curve for college education is horizontal