History and Adam Smith both point out that people of the same trade
a. often face the temptation to engage in collusion.
b. rarely consider engaging in collusion.
c. meet only to consider how to improve the quality of their products.
d. scrupulously avoid engaging in discussions about their trade since they are competitors.
a. often face the temptation to engage in collusion.
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The discount rate is the interest ________.
A. rate at which commercial banks lend to the public B. rate at which the central banks lend to the U.S. Treasury C. rate at which the Federal Reserve Banks lend to commercial banks D. yield on long-term government bonds
What distinguishes economists from other scientists?
A. Economists see the world through a lens of incentives; other scientists focus on other aspects of the world. B. Economists focus more on policy issues compared with other scientists. C. Economists use models; other scientists build scaled-down replicas of what they are studying. D. Economists use regression models; other scientists use only correlations among variables.