Adam Smith
A. argued that capitalism is often confused with democracy.
B. wrote Das Kapital.
C. said that the entrepreneur is motivated by self-interest.
D. coined the phrase: "From each according to his ability, to each according to his needs."
C. said that the entrepreneur is motivated by self-interest.
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The difference between the interest rate on loans to households and firms and the interest rate on completely safe assets is known as ________
A) the fed funds rate B) the discount rate C) asymmetric information D) the credit spread
In the above figure, the optimal level of pollution cleanup is
A) Q1.
B) Q2.
C) Q3.
D) Q4.
Clipping coins created inflation because:
A. it decreased the money supply. B. it decreased the stock of capital goods. C. it increased the stock of capital goods. D. it increased the money supply.
The government policy dictating that all foreign exchange proceeds must be turned over to the country's monetary authority is referred to as capital controls.
Answer the following statement true (T) or false (F)