When a group of countries agree to share a common currency, they are said to have formed a
A) currency union.
B) welfare state.
C) monetary alliance.
D) monetary cartel.
A
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In a crop market with a price support above the equilibrium price, the total amount of the subsidy paid to farmers is equal to the
A) quantity of the surplus crop multiplied by the support price. B) quantity of the crop produced multiplied by the support price. C) quantity of the crop purchased by domestic users multiplied by the support price. D) quantity of the surplus crop multiplied by the equilibrium price. E) quantity of the crop purchased by domestic users multiplied by the equilibrium price.
U.S. goods will become relatively less expensive than goods from other countries if prices were to:
A. increase in the United States only. B. decrease in the United States only. C. increase in the United States and foreign countries at the same rate. D. decrease in the United States and foreign countries at the same rate.
Changes in business inventories are:
A. classified as investment expenditures. B. classified as government purchases. C. classified as consumption expenditures. D. excluded from GDP.
The transactions demand for money is most closely related to its job as a __________.
Fill in the blank(s) with the appropriate word(s).