The so-called Euro Zone refers to:
A. All members of the European Union
B. The EU nations that have adopted a common currency
C. The combined Eastern and Western Europe
D. Nations in Europe where the U.S. has military bases
B. The EU nations that have adopted a common currency
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For a given set of prices, two consumers choose bundles that are off the contract curve. In a competitive market,
A) prices will adjust until the consumers choose bundles that are on the contract curve. B) the indifference curves will shift back to the contract curve. C) the contract curve will shift to connect these bundles. D) no adjustments need to be made.
Internal stress originates in:
a. The outside coming in, intruding b. One's own mind and body c. Acute stress d. On-going role playing, not being genuine
If aggregate supply changes when aggregate demand is stable, then the Phillips curve is negatively sloped.
Answer the following statement true (T) or false (F)
Which best expresses the law of diminishing marginal utility?
A. The more of a product is consumed, the smaller is the total utility from the product B. The less of a product is consumed, the greater is the marginal utility of the product C. The more of a product is consumed, the greater is the total utility from the product D. The less of a product consumed, the smaller is marginal utility of the product