The name of the currency now being used throughout the European Monetary Union is the __________.
Fill in the blank(s) with the appropriate word(s).
euro
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Suppose a profit-maximizing firm in a perfectly competitive market is earning an economic profit of $1,345. If the firm's fixed cost increases from $200 to $300, the firm will:
A. earn a smaller profit. B. reduce its output. C. earn a greater profit. D. raise its price.
In the loanable funds market, what variable changes to eliminate a shortage of loanable funds and how is the shortage eliminated?
What will be an ideal response?
The demand curve:
A. represents consumers' willingness but not ability to buy. B. shows the highest amount consumers will pay for a specific quantity. C. visually displays the demand schedule. D. represents consumers' ability but not willingness to buy.
Currently the NAFTA nations do not meet the conditions for an optimal currency area. What are the two main reasons why?
What will be an ideal response?