The single most important factor in the 1992 crisis of the EMS was
A) ratification of the Single European Act.
B) the near failure of the Maastricht Treaty.
C) German reunification efforts.
D) the outbreak of war in the former Yugoslavia.
C
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Explain the factors that determine the incidence of the payroll tax. Illustrate your answer using graphs
In the United States, who bears most of the payroll tax employers or workers? Why? (Hint: draw two separate supply and demand curves for labor. Show one with a relatively elastic supply for labor and one with a relatively inelastic supply).
Which of the following will most likely increase long-run aggregate supply?
a. an increase in the rate of investment b. an increase in resource prices c. an increase in the minimum wage d. an increase in the expected inflation rate
If the multiplier is 4 and the desired increase in real GDP is $200 billion, the initial change in spending required to achieve that goal:
A. is $200 billion. B. is $800 billion. C. is $50 billion. D. cannot be determined.
If resources are combined efficiently in production, then the society
A. is producing at the most-desirable point on the production possibility frontier. B. is producing at a point outside the production possibility frontier. C. is experiencing economic growth. D. is producing at a point on the production possibility frontier but not necessarily at the most-desirable point.