The European Monetary Union, which preceded the Euro, was
A) opposed by most politicians.
B) favored by most economists.
C) likely to improve the use of monetary policy to deal with contractionary shocks which strike only one or two countries in Europe.
D) all of the above.
E) none of the above.
E
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Insurance companies offer only unfair insurance because
A) they are run by greedy capitalists. B) they can fool customers into buying it. C) they have operating costs. D) their risks are positively correlated.
The process by which union and management representatives negotiate a mutually agreeable contract specifying wages, benefits, and working conditions is called
a. collective bargaining b. mediation c. arbitration d. striking e. litigation
Trish grows oregano in her backyard to use in her homemade pesto sauce. How is this gardening included in GDP?
a. It is included in real GDP. b. It is included in nominal GDP. c. It is not included in GDP. d. It is included as an intermediate good.
Money is used as a unit of account. This means
a. money cannot store value for use in the future. b. money is used to measure the exchange value and costs of goods, services, assets and resources. c. money has little or no intrinsic value. d. money is dependent on the quantity of gold held by the Federal Reserve.