The Maastricht Treaty of 1991 provided for all of the following, EXCEPT:
A) an enlargement process to include more European nations.
B) a ban on nations opting out of a currency union.
C) a rename of the EC to the European Union.
D) a notion of EU "citizenship."
Answer: B) a ban on nations opting out of a currency union.
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Teenage employment in the United States has risen in the past two decades.
Answer the following statement true (T) or false (F)
If a French company sells 1000 gallons of Perrier to a U.S. company at 5 euros per gallon, and uses the money to buy stock in a Spanish cork company, how does this affect the French balance of payments accounts?
A) Decrease in financial account; increase in merchandise trade B) Decrease in merchandise trade; increase in financial account C) Decrease in net investment income from abroad; increase in financial account D) Decrease in merchandise trade; increase in net income from abroad
The fiscal policy of the United States is
A. decided each year by the head of the U.S. Department of the Treasury. B. summarized in the budget of the U.S. federal government. C. published in the Federal Reserve Bank's Annual Report. D. the sum of the budgets of each state and municipality.
The new classical theoretical critique of the existing macroeconomic models is based on
A. the link between the money market and the goods market. B. the nature of the tradeoff between inflation and growth. C. wages and labor market equilibrium. D. the way people form their expectations.