Major achievements of the European Union (EU) include the following, except:
A. Abolished tariffs and quotas among its member nations
B. Liberalized the movement of capital and labor among its member nations
C. Created common policies in agriculture, transportation, and business practices among its members
D. Established a common fiscal policy among its member nations
D. Established a common fiscal policy among its member nations
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If a firm used a combination of inputs that was to the left of its isocost line, it would indicate that
A) it is exceeding its budget. B) it is not spending all of its budget. C) it is operating at its optimal point because it is saving money. D) None of the above
There are not enough of four goods to satisfy the wants of people. For good A, this is true when the price is $100. This is true for good B at a price of $10, for good C at a price of $1, and for good D at a price of zero
Which situation reflects scarcity rather than shortage? A) A B) B C) C D) D
Francis Lowell's Boston Manufacturing Company:
a. specialized in the production of one type of cloth. b. combined all stages of cloth production in one plant. c. sold its product throughout the U.S. d. used power looms for weaving. e. All of the above.
If the required reserve ratio decreases, the:
a. money multiplier increases. b. money multiplier decreases. c. amount of excess reserves the bank has decreases. d. money multiplier stays the same. e. amount of excess reserves stays the same.