Which of the following was NOT an argument in favor of the United Kingdom (UK) leaving the European Union (EU)?
A. Proponents of leaving wanted greater control over immigration.
B. Proponents of leaving believed the UK paid a disproportionate share of membership fees.
C. Proponents of leaving wanted greater access to markets in the other EU member countries.
D. Proponents of leaving stressed that the UK needed to reestablish British sovereignty.
Answer: C
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When demand is unit elastic, a change in price causes total revenue to stay the same because
A) the change in profit is offset by the change in production cost. B) buyers are buying the same quantity. C) total revenue never changes with price changes. D) the percentage change in quantity demanded exactly offsets the percentage change in price.
If a stock is expected to pay a dividend of $40 for the current year, what is the approximate present value of this stock, given at discount rate of 5% and a dividend growth rate of 3%?
What will be an ideal response?
According to the crude quantity theory of money, if M rises by 10%, V will
A. fall by 10%. B. fall by less than 10%. C. stay the same. D. rise by less than 10%.
International trade can have important effects on the distribution of income because
A) some resources are immobile in the short run.
B) of government corruption.
C) the more powerful country dictates the terms of trade.
D) rich countries take advantage of poor countries.
E) different countries use different currencies.