Money spent on college tuition is considered human capital by economists.

There are a few firms in the automobile industry in Poorland. In order to prevent a price war, these firms have secretly agreed to charge a price 20% above the marginal cost of production. This is an example of ________

A) free riding B) undercutting C) collusion D) cost-cutting

Which of the following statements about the Fed is not true?

a. All nationally chartered banks must be members. b. It controls the money supply. c. It issues Federal Reserve Notes. d. It serves as the bankers' bank for member banks. e. All state-chartered banks must be members.