Those economists who argue that the European Union is not a true optimal currency area cite _______________ and __________________ as justifications for this position
A) differences in culture; decreased labor mobility
B) differences in language; culture
C) decreased labor mobility; language differences
D) none of the above
B
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How will the exchange rate (foreign currency per dollar) respond to an increase in the relative rate of productivity growth in the United States in the long run?
A) Exchange rates will rise. B) Exchange rates will be unaffected by changes in the relative rate of productivity growth in the United States, both in the short run and in the long run. C) The exchange rate will be affected in the short run, but not in the long run. D) Exchange rates will fall.
Chickens are not endangered because
A) there are clear property rights to them. B) government regulates chicken processors. C) there are positive externalities. D) they are free and not owned by anyone.
The tax you pay on your last dollar of income is called the
A. marginal rate of payment. B. average tax rate. C. marginal tax rate. D. marginal propensity to pay tax.
This firm's most profitable output is at
A. 150.
B. 230.
C. 300.
D. 350.