Describe the main provisions of the Maastricht Treaty of 1991
What will be an ideal response?
Called for a single currency by January 1, 1999, harmonizing social security policy within the European Union, and centralizing foreign and defense policy decisions.
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If Odetta's marginal value of freedom fries is $8 per pound, then
a. Odetta will be indifferent if she trades 1 pound of freedom fries for $8 worth of all other goods. b. Odetta thinks 1 pound of freedom fries is worth $8, 2 pounds of freedom fries are worth $16, and so forth. c. Odetta will not purchase any freedom fries if the price is more than $8 per pound. d. Odetta must sacrifice $8 in currency for every pound of freedom fries she chooses to purchase.
The South's economy was based on production of
A. iron, steel and textiles. B. corn, wheat and soybeans. C. tobacco, cotton and rice. D. iron, wheat and cotton.
The quantity of loanable funds supplied by firms is
A. independent of the interest rate. B. negatively related to the rate of return. C. inversely related to the interest rate. D. positively related to the interest rate.
Which of the following is a true statement?
A. Innovation normally follows invention and precedes diffusion. B. Invention normally follows diffusion and precedes innovation. C. Diffusion normally follows invention and precedes innovation. D. Innovation normally follows diffusion and precedes invention.