An American traveling to Europe will find it easier to make purchases now because:
A. many of the countries in Europe now use the same currency, the euro.
B. all of the countries in Europe now use the same currency, the euro.
C. most countries in Europe accept U.S. dollars.
D. most of the countries of Europe have adopted the British pounds as the standard currency.
Answer: A
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One of the outcomes of the Uruguay Round is the formation of the World Trade Organization now sets new trade rules and has more power than the old GATT to enforce the rules it sets
Indicate whether the statement is true or false
If AE > Y, which of the following will NOT occur?
A) inventories will decline B) actual investment will be more than planned investment C) employment will increase D) GDP will increase
Unit taxes cause shifts, while ad valorem taxes cause pivots.
A. True B. False C. Uncertain
Refer to the above figure. Suppose the relevant aggregate demand curve is AD2. If the government wants to use discretionary fiscal policy to close the existing gap, it should
A) decrease taxes. B) increase taxes. C) increase the money supply. D) decrease government spending.