The EU countries were prompted to seek closer coordination of monetary policies and greater exchange rate stability in order
A) to enhance Europe's role in the world monetary system.
B) to turn the European Union into a truly unified market.
C) both to enhance Europe's role in the world monetary system and to turn the European Union into a truly unified market.
D) both to turn the European Union into a truly unified market and to counter the rise of Japan in international financial markets.
E) to homogenize all European cultures.
C
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Over the past fifty years, there has been substantial closure of the gap in real GDP per person between which of the following groups of countries?
A) the United States and Central and South America B) Africa and Western Europe C) Central and South America and Africa D) the United States and Japan
According to the quantity theory of money, inflation is caused by
A) the money supply growing faster than real GDP. B) GDP growing at the same rate as the money supply. C) the money supply growing slower than real GDP. D) GDP growing faster than the money supply.
Municipal bonds have default risk, yet their interest rates are lower than the rates on default-free Treasury bonds. This suggests that
A) the benefit from the tax-exempt status of municipal bonds is less than their default risk. B) the benefit from the tax-exempt status of municipal bonds equals their default risk. C) the benefit from the tax-exempt status of municipal bonds exceeds their default risk. D) Treasury bonds are not default-free.
A firm's advertising can help rivals
A) if it focuses on a general problem that the product addresses. B) if it focuses on a secret ingredient that only this firm possesses. C) if rivals do not advertise. D) if rivals advertise.