The principle of subsidiarity is a way to
A) divide power between local governments and unions.
B) provide support for industries in decline.
C) provide support for industries under pressure from foreign competition.
D) divide power between national governments and the EU.
E) divide EU tax money among the member countries.
D
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An autonomous expenditure is one that does not depend on:
A) government policy B) the automobile sector C) interest rates D) GDP
The term "sovereign debt crisis" applies when ________
A) private businesses cannot borrow money because the government is borrowing so much B) nations compete fiercely with each other to increase their borrowing C) a government finds that the cost of borrowing is higher than it had anticipated D) the debt of a particular government quickly loses value
The product supplied by a monopoly firm has
A. a few substitutes. B. no close substitutes. C. a large number of substitutes. D. two or three close substitutes.
Two countries with differing comparative advantages may engage in trade because
A. They will be able to consume more goods in total due to specialization and trade. B. They will be able to produce and consume goods on their production possibilities curves. C. They will achieve an absolute advantage with one another. D. They are required to because they are part of the World Trade Organization.