Monetary policy in the European Monetary Union is determined by
A. the Bundesbank.
B. the European Union Senate.
C. the European Central Bank.
D. None of the above.
Answer: C
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Overcrowding under public school choice is not a problem because _____
a. parents find crowded schools undesirable b. parents do not mind sending their kids to schools far away from home c. schools have the ability to drastically expand capacity in the short-run d. schools will be extremely exclusionary
Labor specialization can increase production primarily because workers
a. are now supervised more and so have to work harder b. become proficient when they specialize in what they do best c. have to work more hours to buy the things they want d. engage in competitive, rather than cooperative, production e. have to learn how to do every production-related task well
In the open-economy macroeconomic model, the key determinant of net capital outflow is the
a. nominal exchange rate. b. nominal interest rate. c. real exchange rate. d. real interest rate.
The state of choosing not to acquire information because the costs of acquiring the information are greater than the benefits is referred to as
A) logrolling. B) rational ignorance. C) market failure. D) government failure.