Members of the European Exchange Rate Mechanism (ERM)
A) agreed to buy and sell gold at a fixed rate.
B) promised to maintain the values of their currencies within a fixed range.
C) attempted to maintain a fixed exchange rate against the dollar.
D) all agreed to charge the same interest rate on central bank loans.
B
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Illegal immigrants to the U.S. usually charge higher wages than their American counterparts
a. True b. False Indicate whether the statement is true or false
Specialization in production and then trading with other countries
A. Change the mix of output for each country and increase total world output. B. Increase the standard of living for rich countries but not for poor countries. C. Mean that every citizen in every country is better off. D. Change the mix of output for rich countries but not for poor countries.
Which of the following is correct?
A. The excess capacity problem diminishes as the monopolistically competitive firm's demand curve becomes less elastic. B. The excess capacity problem means that monopolistically competitive firms typically produce at some point on the rising segment of their average total cost curve. C. The greater the degree of product variation, the lesser is the excess capacity problem. D. The greater the degree of product variation, the greater is the excess capacity problem.
Which of the following are considered ad valorem taxes?
A. taxes based on the amount of debt that the government must repay B. taxes assessed by charging a flat amount per unit purchased C. taxes assessed by charging a rate equal to a percentage of an item's price D. taxes based on the amount of spending the government will undertake