Euro-pessimists believe that the Eurozone has been unsuccessful because:
A) it has had little effect on already high intra-European trade.
B) the euro is becoming a reserve currency for foreign central banks.
C) European inflation has fallen to 10% annually.
D) there are no exit mechanisms for countries to leave the Eurozone.
Answer: A) it has had little effect on already high intra-European trade.
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Which of the following increases the demand for a normal good?
A) a decrease in income B) an decrease in the price of a substitute C) an increase in the price of a complement D) the price of the good is expected to increase in the future
If we were to compare the monopolistically competitive firm's long-run outcome to that of a perfectly competitive one, we would conclude that the monopolistically competitive firm:
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A. 4 B. 1 C. 3 D. 2
The total fixed cost remains constant as which of the following varies?
A. cost of resources B. time C. output in a given period of time D. profit