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.
C
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Economists point out that the strong inflow of undocumented workers to some extent reflects the:
A. Increasing return to capital in the United States B. Increasing scarcity of unskilled labor in other countries C. More lenient immigration laws D. Increasing scarcity of domestic unskilled labor in the United States
The sum of the squares of the market share for the fifty largest firms in a market is the basis of the government's current merger guidelines
Indicate whether the statement is true or false
In the long run, firms in a perfectly competitive market will:
A. exit if the price is lower than their lowest average total cost. B. attract other firms to the market if the price is equal to their lowest average total cost. C. not attract other firms if they are earning slightly positive economic profits. D. earn positive economic profits.
Adam Smith's book The Wealth of Nations was published at the time of the:
a. Great Depression. b. U.S. Declaration of Independence. c. U.S. Civil War. d. War of 1812.