In 1999, the Eurozone was:
A) formed by all European countries to reduce tariffs.
B) formed by 11 countries to adopt a new currency.
C) formed by 21 countries to allow labor migration between countries.
D) renamed the World Trade Organization.
Ans: B) formed by 11 countries to adopt a new currency.
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An assumption of the classical model is that
A) money illusion is widespread. B) people make decisions based on nominal prices rather than real prices. C) prices are flexible while wages are inflexible. D) people are motivated by self-interest.
"In the long run, a perfectly competitive firm's average total cost is always below the market clearing price." Agree or disagree? Why?
What will be an ideal response?
Law of Supply and Demand
What will be an ideal response?
Direct foreign investment items have more liquidity than foreign portfolio investment items
Indicate whether the statement is true or false