An agreement among countries to adopt a common currency is called a
A) central bank consolidation.
B) currency union.
C) monetary compact.
D) common banking treaty.
B
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When the misery index is used to judge macroeconomic conditions, reducing inflation by one percentage point
A) has no effect at all on how we judge the economy's performance. B) is of less benefit to the economy than reducing the unemployment rate by one percentage point. C) gives the same benefit to the economy as reducing the unemployment rate by one percentage point. D) is of greater benefit to the economy than reducing the unemployment rate by one percentage point.
If someone you know offers far more to hire you to work for than you could ever have imagine, the opportunity cost of working for yourself would rise
a. True b. False Indicate whether the statement is true or false
The equation for aggregate expenditure is as follows:
a. C + I + G + (X - M) b. C + I + P + (X – M) c. I + G + (X – M) d. C + G + (X – M)
Mark can make 3 tables and 1 chair in a day while John can make 4 tables and 1 chair in a day. Which of the following is true?
A) Mark has a comparative advantage in making tables. B) Mark has an absolute advantage in making tables. C) John has an absolute advantage in making tables. D) John has a comparative advantage in making chairs.