Which of the following treaties/agreements would be associated with creating a free trade area for the European Union?
A) Treaty of Rome
B) Single Europe Treaty
C) Delors Agreement
D) Schengen Agreement
A
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If devaluation improves only the BOP, rather than the BOT, this implies that the capital account must have improved following a devaluation
Indicate whether the statement is true or false
In monopolistically competitive markets, free entry and exit suggests that
a. the market structure will eventually be characterized by perfect competition in the long run. b. all firms earn zero economic profits in the long run. c. some firms will be able to earn economic profits in the long run. d. some firms will be forced to incur economic losses in the long run.
Which of the following is correct regarding why interest rates differ for different people or businesses, or for things like business loans, mortgage loans, student loans, and car loans?
a. Interest rates tend to be lower for those borrowers judged to be less likely to repay their loan. b. Interest rates tend to be higher for loans extended for shorter periods of time. c. The cost of administering one large loan will tend to be higher than the cost of administering the same amount of money extended to borrowers through many small loans. d. Interest rates tend to be lower for those borrowers judged to be more likely to repay their loan.
U.S. currency is
A. a commodity money B. tied to the value of gold at a fixed rate C. fiat money D. the only store of value