The ________ established the criteria for participation in the European Monetary Union (EMU).
A. Treaty of Rome
B. Exchange Rate Mechanism
C. Maastricht Treaty
D. European Central Bank
Answer: C
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During the first 6 months of 2008, the United States imported from Africa, Asia, and Latin America more than 1.6 billion pounds of coffee and did not export any coffee
How is the gain from imports distributed between consumers and domestic producers? A) U.S. producer surplus shrinks. B) U.S. consumer surplus increases. C) Total U.S. surplus increases. D) All the above answers are correct.
Suppose real money demand is 1000, real output is 6000, and the price level is 200. What is the level of velocity in this economy?
A) 2 B) 3 C) 6 D) 12
For purposes of calculating the CPI, the food & beverages category of consumer spending includes the cost of
a. food away from home. b. alcoholic beverages. c. both food away from home and alcoholic beverages. d. neither food away from home nor alcoholic beverages because these are included in the recreation category of consumer spending.
The more progressive the tax system, the:
A. less is the effect of crowding out on the economy. B. greater is the severity of business fluctuations on the economy. C. less is the built-in stability for the economy. D. greater is the built-in stability for the economy.