Originally considered by economist Robert Mundell, decades later, in 2001, Europe adopted a new common currency now known as:
A) the euroyen, ¥.
B) the eurodollar, $.
C) the europa, .
D) the euro, €.
Ans: D) the euro, €.
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The IS curve becomes steeper when there is
a. a higher marginal propensity to save. b. a smaller parameter measuring the interest sensitivity of investment. c. a lower marginal propensity to save. d. Both a and b e. Both b and c
In the rational expectation model, government control over aggregate demand: a. gives it the power to alter real output and employment even when the effects of government policies are expected. b. can affect real output in the short-run only if policies are unexpected
c. has potential to change long-run real output as long as the aggregate supply curve is vertical. d. has highly unpredictable effects on real output in the long run.
What is the relationship between the long-run industry supply curve and the short-run supply curve in a perfectly competitive market?
Which of the following is not an example of in-kind transfers?
A. Medicaid benefits. B. Housing subsidies. C. Social Security payments. D. Food stamps.