How did the European Union attempt to alleviate problems with currency exchange among its member countries?
a. removed trade barriers
b. created a common currency
c. dissolved national banks
d. eliminated national borders
b. created a common currency
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Other things equal, if planned investment spending is less than actual investment spending, then aggregate expenditure will be ________ real GDP and employment will ________
A) greater than; increase B) greater than; decrease C) less than; increase D) less than; decrease
A more efficient process for refining oil into gasoline is developed. As a result, the market price of gasoline: a. and the quantity of gasoline purchased both increase
b. increases and the quantity of gasoline purchased falls. c. decreases and the quantity of gasoline purchased rises. d. decreases and the demand curve for gasoline shifts to the right.
The demand for labor curve will shift to the left when the demand for a firm's product decreases
a. True b. False Indicate whether the statement is true or false
When companies like Uber and Lyft join the ride-share market, what would we most likely expect to see cab drivers do to their prices?
A. Raise prices and advertise more. B. Leave their prices the same. C. Lower prices to stay competitive. D. Lower prices for a while and then raise them again.