Which of the following does not serve on the Governing Council of the European Central Bank?
A) governors of the national central banks
B) members of the executive board
C) finance ministers of each country
D) chair of the executive board
C
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Which of the following is an example of a negative externality (additional social cost)?
A. an increase in the value of land you own when a nearby development is completed B. the costs paid by a company to build an automated factory C. the higher price you pay when you buy a heavily advertised product D. falling property values in a neighborhood where a disreputable nightclub is operating
According to the natural rate hypothesis, in the short run an increase in the inflation rate brings
A) an increase in the natural unemployment rate. B) an increase in the unemployment rate. C) no change in the unemployment rate. D) a decrease in the unemployment rate. E) a decrease in the natural unemployment rate.
In the above figure, the total revenue for a single-price monopolist is shown by the area
A) 0P5fQ1. B) P2P4eb. C) 0P3cQ1. D) 0P4eQ3.
Empirical evidence suggests that saving tends to rise when there is an increase in interest rates. What does this imply about the relative sizes of the income and substitution effects? Explain
What will be an ideal response?