A major reason for creating the European Monetary System was to
A) create a single currency.
B) unify banking laws and permit cross-border investment.
C) avoid competitive devaluations.
D) reduce the costs of changing currencies.
E) eliminate the need for central banks.
C
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Which of the following is one of the chief reasons for the change in the participation rate of married women in the U.S. workforce?
Economic rent is defined as
a. the opportunity cost of a resource b. the payment to a resource in excess of its opportunity cost c. opportunity cost d. total earnings e. the part of a homeowner's housing that is included in GDP accounts
What do individuals have a strong incentive to do when price is the rationing criterion?
What will be an ideal response?
Analysis of the short-run Phillips curve suggests that policymakers who want to reduce unemployment in the short run should ______ aggregate demand at a cost of generating ______ inflation.
A. increase; higher B. increase; lower C. decrease; higher D. decrease; lower