The decision that the European Union should have a common currency was made at:
a. Maastricht
b. Rome
c. Vienna
d. London
A
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The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.
Define wealth. What is the relationship between wealth and saving?
What will be an ideal response?
The substitution effect of a decrease in the price of movie tickets results in
A) a decrease in the quantity of movie tickets demanded. B) an increase in the demand for movie tickets. C) an increase in the quantity of movie tickets demanded. D) a decrease in the demand for movie tickets.
Which of the following is not an advantage of cost-plus pricing?
A) If a firm is selling multiple products, it ensures that the firm's prices will cover costs that are difficult to assign to one product. B) It ensures that the firm will maximize its profits. C) It is easy to calculate. D) It requires little information.