Adam Smith wrote that the:
a. government should control the economy.
b. public or collective interest is not promoted by people pursuing their self interest.
c. pursuit of private self interest promotes the public interest in a market economy.
d. economic problems of eighteenth-century England were caused by free markets.
c
Economics
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Explain absolute advantage
What will be an ideal response?
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Which of the following constitutes a currency drain from the banking system?
a. Purchase of government securities b. New demand deposits c. Banks lending out all excess reserves d. A banking panic that leads to large withdrawals from banks e. Lower required reserve holdings
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