Which of the following is one of the convergence criteria that countries needed to satisfy to join the Eurozone?
A) 10 consecutive years in the ERM band without devaluation of its currency
B) a government deficit of no more than 25% of GDP in the previous year
C) total government debt of no more than 60% of GDP in the previous year
D) an inflation rate of 0% in the previous 10 consecutive years
Ans: C) total government debt of no more than 60% of GDP in the previous year
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Which of the following is an example of negotiation costs?
A) Isabel knows that other neighbors' sleep patterns must also be affected by the howling dogs in her neighborhood and sets out to find those neighbors. B) Isabel is bound and determined to to find out which of her neighbors owns the howling dogs that are preventing her from getting a full night's slee
How is the production of public goods funded?
Beyond the provision of public goods, government exists to address:
A. national defense. B. limiting personal freedom. C. the problem of declining moral values. D. externalities and property rights.
If the total deposits of the banking system are $400 billion, how much money could these reserves support if the required reserve ratio is 0.20 and banks hold no excess reserves?
A. $2,000 billion B. $400 billion C. $1,200 billion D. $1,600 billion