To satisfy the admission criteria to the European Union, a country must meet all of the following, EXCEPT:
A) maintain an inflation that is equal to the average of the three lowest rates.
B) maintain long-term interest rates equal to that of the three countries with the lowest inflation rates.
C) maintain a pegged exchange rate, without any revision for two years.
D) cut down taxes to the lowest possible level.
Answer: D) cut down taxes to the lowest possible level.
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If the natural rate of unemployment equals 6 percent and the actual rate of unemployment equals 5 percent, then cyclical unemployment equals:
A. 11 percent. B. -1 percent. C. 1 percent. D. -1.2 percent.
Pat earns $1,000 per week and spends $850 per week on living expenses, puts $50 in a savings account, and buys $100 worth of shares in a stock mutual fund. Pat's saving is ________, and Pat's saving rate is ________.
A. $150; 15% B. $50; 5.9% C. $50; 5.0% D. $100; 10%
Overseeing who operates banks and how they are operated is called
A) prudential supervision. B) hazard insurance. C) regulatory interference. D) loan loss reserves.
Which of the following is true? I. A rational choice is always made in the pursuit of social interest. II. Economics is a social science. III. Economists try to understand how the economic world works by testing positive statements.
A. A rational choice is always made in the pursuit of social interest. B. ii and iii C. only i D. only ii E. only iii F. i and ii Reset Selection