The common currency of the Economic Monetary Union is the
a. franc.
b. pound.
c. euro.
d. mark.
c. euro.
You might also like to view...
Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; potential D. recessionary; lower; lower
Exhibit 30-4
?
A. overproduces; Q1 B. underproduces; Q2 C. overproduces; Q1 - Q2 D. underproduces; Q2 - Q1
Continuing with the same vacation-insurance company from the preceding question, is there any vacation-day price that would both strictly increase the family's expected utility (compared to no insurance) and strictly increase the profits of the risk-neutral insurance company?
a. No. b. Yes, 3 or 4. c. Yes, 4. d. Yes, 4 or 5.
Producers of computer software are plagued with the problem of "pirating", that is, many people copy software legally purchased by others. The industry estimates that for each legal copy of a program, there are two pirated copies in use. The industry wants strict laws for the enforcement of its "intellectual property rights," but enforcement is obviously very difficult. Economists call this
problem a. depletability. b. externality. c. durability. d. nonexcludability.