What new authority did the ECB receive in 2012?
A) the authority to oversee the banking systems of all member countries
B) the ability to set different interest rates in different member countries
C) the ability to require that member nations balance their budget
D) permission to monetize the debt of member countries
A
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Regulatory agencies engage in all of the following activities except _______
a. controlling entry into the regulated industries b. overseeing the quality of service provided by the firms c. setting federal and state income tax rates on regulated firms d. setting prices that consumers will pay e. none of the above
The real wealth effect explains that higher prices
a. make people worse off by reducing the value of their wealth, leading them to save more and spend less b. make people worse off by reducing the value of their wealth, leading them to save less and spend more c. make people better off by increasing the value of their wealth, leading them to save less and spend more d. increase borrowing, leading to higher interest rates and less investment e. make domestic goods relatively more expensive, increasing the demand for domestic goods and decreasing the demand for foreign goods
When political officials have substantial discretionary power to override the rule of law,
A) uncertainty is reduced and the government will be able to promote economic progress more effectively. B) this creates uncertainty and makes business activity less attractive. C) business investment will increase because the rule of law will no longer stifle investment. D) the incentive to solicit bribes and political favors is weak.
Over the last 20 years, American APS has
A. never been above 0.1. B. sometimes been above 0.1. C. usually been above 0.1. D. always been above 0.1.