The European Currency Unit (ECU) acted as a means of payment
Indicate whether the statement is true or false
FALSE
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Suppose there are only 2 nations, Atlantis and Pacifica, and only two goods, surfboards and kayaks. If Atlantis produces only surfboards, it can make 50 per day. If Atlantis produces only kayaks, it can make 75 per day
If Pacifica produces only surfboards, it can make 75 per day. If Pacifica produces only kayaks, it can make 75 per day. After trade begins, ________ will specialize in the production of surfboards and ________ will specialize in the production of kayaks. A) Atlantis; Pacifica B) Pacifica; Atlantis C) Atlantis; Atlantis D) Pacifica; Pacifica
A very hot summer in Atlanta will cause
a. the demand curve for lemonade to shift to the left. b. the demand for air conditioners to decrease. c. the demand for jackets to decrease. d. a movement downward and to the right along the demand curve for tank tops.
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
The increase in the demand for hybrid vehicles caused manufacturers of hybrid vehicles to increase prices by 20%. This is an example of
A. inflation. B. deflation. C. the operations of supply and demand. D. a sustained inflation.