The earliest beginning of the European Union was the:
A) Maastricht Treaty.
B) Treaty of Rome.
C) Paris Accord.
D) Louvre Accord.
Ans: B) Treaty of Rome.
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An event driving gasoline prices higher from 2006 to 2008 was
A. conflict in Nigeria. B. growing energy use in China and India. C. Hurricanes Katrina and Rita. D. all of the answers are correct.
"Inflation acts as a tax because the government gains purchasing power." Is the previous statement correct or incorrect?
What will be an ideal response?
If the nominal interest rate is 7 percent and the inflation rate is 1 percent, the real interest rate is approximately
A) 7 percent. B) 6 percent. C) 8 percent. D) -6 percent.
If government regulators force a natural monopoly to produce where price equals marginal cost, the monopoly will earn
a. a "fair return" b. positive economic profit c. zero economic profit d. negative economic profit e. greater economic profit than if it were unregulated