Which of the following is an advantage of the European Monetary Union?
A. Increased cost of exchanging currencies
B. A higher likelihood of conflict between members
C. Increased monetary independence for each member
D. Increased price transparency
Answer: D
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Consider two countries—A and B. Both the countries are identical except for the fact that institutions are extractive in country A and institutions are inclusive in country B
Given this information, which of the following statements will be true? A) Country A will be characterized by higher output and larger number of entrepreneurs than country B. B) Country A will be characterized by lower output but larger number of entrepreneurs than country B. C) Country A will be characterized by lower output and smaller number of entrepreneurs than country B. D) Country A will be characterized by higher output but lower number of entrepreneurs than country B.
________: the monetary value of a nation's merchandise exports minus the value of merchandise imports for a given period of time
Fill in the blank(s) with correct word
The equation 
is the
A. average propensity to consume. B. average propensity to save. C. marginal propensity to consume. D. marginal propensity to save.
The reserve ratio equals 20 percent. The Fed buys $1 million in U.S. government securities. The most the money supply can increase is
A) $5 million. B) $4 million. C) $10 million. D) $1 million.