The single most important factor in the 1992 crisis of the EMS was
A) ratification of the Single European Act.
B) the near failure of the Maastricht Treaty.
C) the fall in unemployment rates throughout the EEC.
D) German reunification efforts.
E) the outbreak of war in the former Yugoslavia.
D
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________, 
A. Rising; B; C B. Falling; A; C C. Falling; A; B D. Rising; A; C
Say Anna's utility function was given by UA = (MA) (MM), where MA is Anna's wealth and MM is Marie's wealth. Initially, Anna has 160 units of wealth and Marie has 40. In order to maximize her utility Anna should
A. transfer all her wealth to Marie. B. keep all her wealth for herself. C. get 40 units from Marie. D. transfer 60 units to Marie.
If the income effect outweighs the price effect of a wage increase, the labor-supply curve will:
A. slope downward. B. be perfectly flat. C. slope upward. D. be perfectly horizontal.
Table 6.1Refer to Table 6.1. When quantity = 5, this market is ________ because ________.
A. inefficient; willingness to pay > marginal cost B. inefficient; willingness to pay < marginal cost C. efficient; willingness to pay = marginal cost D. producing too much consumer surplus; willingness to pay > marginal cost