Which of the following was true of countries willing to join the euro?
A. The countries had to maintain a debt to GDP ratio of more than 60 percent.
B. The countries had to maintain bank balances in their home currencies.
C. The countries had to lose the eligibility to participate in foreign trade.
D. The countries had to give up the ability to use monetary policy as individual countries.
Answer: D
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The Great Depression ________
A) was largely confined to the United States B) was largely confined to European markets C) was largely confined to Asian markets D) was worldwide in scope
All of following are commonly considered to be common property EXCEPT
A) spotted owls in the wild. B) fish in an ocean. C) chickens raised in a farm. D) wild salmon in a river.
One reads in the newspaper: "Today the president and Congress enacted a law which adds new requirements that child care providers must meet before they can offer their services for sale." As a result, an economist would predict that
A) the supply of child care services will increase, thus lowering the price of child care services. B) the supply of child care services will be unaffected by the stiffer requirements and therefore the price of child care services will not change. C) the demand for child care services will fall because people who buy child care services do not want stiffer requirements placed on child care providers. D) the supply of child care services will decrease, thus raising the price of child care services. E) none of the above
Which of the following is most consistent with the basic postulate of economics: changes in incentives exert a predictable impact on human behavior?
a. Farmers produce fewer bushels of wheat in response to an increase in the price of wheat. b. People will buy more milk at a price of $3 per gallon than at $2 per gallon. c. People will buy less gas if the price of gas increases by $0.50 per gallon. d. People will consume more beef if the price increases from $1 to $2 per pound.