Which agreement removes customs and passport controls at the common borders of many EU countries?
What will be an ideal response?
Schengen Agreement
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If the Fed is worried about inflation and wants to raise the interest rate, in the short run it can
A) increase the demand for money. B) decrease the demand for money. C) increase the quantity of money. D) decrease the quantity of money. E) directly raise the interest rate without affecting either the demand for money or the supply of money.
Beef and leather belts are complements in production. If people's concern about health shifts the demand curve for beef leftward, the result in the market for leather belts will be a
A) lower equilibrium price for a leather belt because there is an increase in the supply of leather belts. B) lower equilibrium price for a leather belt because there is a decrease in the supply of leather belts. C) higher equilibrium price for a leather belt because there is a decrease in the supply of leather belts. D) higher equilibrium price for a leather belt because there is an increase in the supply of leather belts.
How will the purchase of $100 million of government securities by the Federal Reserve change bank reserves and total checking account deposits in the banking system as a whole? Assume that banks do not hold any excess reserves, that households and
firms do not change the amount of currency they hold, and that the required reserve ratio is 20 percent.
Assume that a country has a domestic demand curve defined as Qd = 100 - 2P and a domestic supply curve defined as Qs = -20 + 3P. What is the autarchy equilibrium price and quantity?
What will be an ideal response?