Which of the following developments encouraged globalization of markets during the 1990s?
A. Numerous bilateral and multilateral trade agreements were reached.
B. The ability to buy and sell goods on the Internet was increased.
C. Eleven European countries began using the "euro" as a common currency.
D. both a and c
E. all of the above
Answer: E
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The long-run aggregate supply curve shifts right if
a. either immigration from abroad increases or technology improves. b. immigration from abroad increases, but not if technology improves. c. technology improves, but not if immigration from abroad increases. d. None of the above are correct.
Featherbedding refers to
A. the union using its members' dues to fund political activities. B. one union using a previously negotiated contract as a starting point for its own negotiations. C. the union requiring the firm to hire more workers than are actually needed to perform a particular task. D. negotiating better fringe benefits than nonunion workers. E. firing high-wage workers when the union goes on strike.
Long-run macroeconomic equilibrium occurs when the aggregate demand curve ________ the short-run aggregate supply curve, and they ________ the long-run supply curve
A) intersects; intersect at a point to the right of B) intersects; intersect at a point on C) is steeper than; intersect at a point to the left of D) is flatter than; intersect at a point to the right of
What is the opportunity cost of your college degree?
What will be an ideal response?