The 1992 plan of the European Union calls for
a. the complete mobility of economic resources across EU borders.
b. establishing the British pound as the common currency.
c. a central banking system in Zurich.
d. a federal tax system similar to that of the United States.
a. the complete mobility of economic resources across EU borders.
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Define the shutdown point. Explain why the firm shuts down in the short run if the price falls below this point
What will be an ideal response?
Refer to Figure 3-8. The graph in this figure illustrates an initial competitive equilibrium in the market for apples at the intersection of D1 and S2 (point B). Which of the following changes would cause the equilibrium to change to point C?
A) a positive change in the technology used to produce apples and decrease in the price of oranges, a substitute for apples B) an increase in the wages of apple workers and an increase in the price of oranges, a substitute for apples C) an increase in the number of apple producers and a decrease in the number of apple trees as a result of disease D) a decrease in the wages of apple workers and an increase in the price of oranges, a substitute for apples
If you invest in a foreign company by buying 28 percent of its shares of stock, you have engaged in
A) portfolio investment. B) moral hazard. C) foreign direct investment. D) adverse selection.
Which of the following is most important for the achievement of higher income levels and living standards?
a. an increase in total employment b. increases in government spending that create jobs c. production of additional goods and services that people value highly relative to the cost of their production d. restriction of imports that expand employment in the protected industries