Europe may not be an optimum currency area because
A) people speak different languages.
B) workers are not very mobile.
C) the countries do not trade very much with each other.
D) financial markets are weak.
B
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The term "transportation revolution" implies:
a. binding the East and West politically. b. binding the East and West economically. c. rapidly introduced technological innovations. d. All of the above are implied.
Which of the following statements is true of a barter system? a. In a barter system, an individual offers one good or service to get another good or service. b. In a barter system, an individual offers money to get a good or service
c. In a barter system, an individual offers a good or service to get money. d. In a barter system, different kinds of money are exchanged for one another. e. In a barter system, all individuals are self-sufficient.
Economists believe that most individuals act as if they are motivated by self-interest and: a. respond selfishly
b. respond in predictable ways to changing circumstances. c. it leads to inconsistent and unpredictable behavior. d. all of the above.
Demand shows
a. the various quantities people are willing and able to buy at various prices, ceteris paribus. b. the various quantities people are able and willing to buy at various prices. c. the various prices people face when buying. d. how much people buy at one specific price.