Changes in the value of the euro affect the economies of
A. All European countries, but there would be no significant impact on countries outside Europe.
B. Only those countries using the euro as currency.
C. No countries as long as exchange rates are flexible.
D. Potentially the entire world.
Answer: D
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Price floors are only effective below the market equilibrium.
Answer the following statement true (T) or false (F)
A vertical merger involves a combining of one or more firms:
A. as the result of one firm purchasing the assets of the other. B. that are operating in entirely different industries. C. operating at different stages of the production process in a particular industry. D. operating at the same stage of the production process.
For the Cobb-Douglas production function F(L,K) = AL?K?, a factor-neutral technical change would be represented by:
A. an increase in the value of ?. B. an increase in the value of ?. C. values of ? and ? for which ? + ? = 1. D. an increase in the value of A.
An increase in the real wage rate will cause
A. the labor demand curve to shift to the left. B. the quantity of labor demanded to rise. C. the labor demand curve to shift to the right. D. a movement along the labor demand curve.