One of the successes of the European Union (EU) is that banks have "passporting rights," which means that
A. banks in the EU are not required to follow the policies of a central monetary authority.
B. banks in the EU can sell financial services to any EU country without regulatory barriers.
C. banks in the EU have the authority to issue EU passports and travel visas to any citizen of a member country.
D. banks in the EU have unlimited access to foreign financial capital.
Answer: B
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The Federal Reserve can influence the exchange rate by
A) changing interest rates. B) buying or selling dollars. C) Both answers A and B are correct. D) None of the above answers is correct.
Color television prices rise by 10 percent, and in response the quantity of those TVs supplied increases by 6 percent. The supply elasticity for color television sets in that price range is
A) 0.6. B) 1.66. C) 6.0. D) -1.66.
In utility analysis, it is assumed that marginal utility diminishes as consumption of a product decreases
a. True b. False Indicate whether the statement is true or false
An economist worrying about the economic impact of environmental regulations would model that impact with
A. an increase in aggregate demand. B. an increase in aggregate supply. C. a decrease in aggregate supply. D. a decrease in aggregate demand.