How could Adam Smith's comment about the butcher, the brewer, and the baker be accurately rephrased in modern terms?
A) The butcher, the brewer, and the baker give us our dinner because they want to be well liked in the community.
B) The butcher, the brewer, and the baker give us our dinner because they will be sued if they don't do so.
C) The butcher, the brewer, and the baker give us our dinner because they each earn a living by doing so.
D) The butcher, the brewer, and the baker give us our dinner because they view doing so as a public service.
C
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A. unemployment. B. exogenous spending. C. recessionary gaps. D. expansionary gaps.
Unconventional monetary policies include massive lending to banks and open-market purchases of assets other than Treasury bills.
Answer the following statement true (T) or false (F)
A competitive market is always efficient
Indicate whether the statement is true or false
Firms in different countries that face different input prices may produce the same good using different combinations of inputs, even though they have access to the same technology
Indicate whether the statement is true or false