Before the creation of the European Economic Community, there was the
A) European Economic Union.
B) European Coal and Steel Community.
C) European Union.
D) European Free Trade Area.
B
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The opportunity cost of taking a semester-long economics class is
A) the cost of tuition and fees only. B) equal to the highest value of an alternative use of the time and money spent on the class. C) the value of the time spent in the classroom. D) the knowledge and enjoyment you receive from attending the class. E) zero because there is no admission charged if you are enrolled in the course.
The saving and investment equation holds only when the federal budget is balanced
Indicate whether the statement is true or false
The consumption function assumes that:
a. only disposable income affects consumption b. only the price level affects consumption. c. many factors other than disposable income affect consumption, and each is allowed to vary along the consumption function. d. factors other than disposable income affect consumption, but those are held constant along the consumption function. e. only consumer expectations affect consumption.
If Japanese tourists visit Yellowstone Park, what is the effect in the foreign exchange market?
a. It will increase demand for U.S. dollars. b. It will decrease demand for U.S. dollars. c. It will increase supply of U.S. dollars. d. It will decrease supply of U.S. dollars.