Some economists believe that if Greece had its own currency, it would not have been as vulnerable to a financial crisis as was the case with being in the Eurozone.
Answer the following statement true (T) or false (F)
True
Because the euro was its currency, along with other financial limitations inherent in the European Union, Greece could not pursue unconventional means to fix its economy.
You might also like to view...
Using a TR-TC graph, a firm maximizes profit by producing the output level where the greatest
a. vertical distance occurs between the MR and MC curves b. vertical distance occurs between the TR and TC curves, and the TR curve is above the TC curve c. total revenue occurs d. horizontal distance occurs between the TR and TC curves, and the TR curve is above the TC curve e. horizontal distance occurs between the MR and MC curves, and the MR curve is rising
If a 10 percent increase in income induced a group of consumers to reduce their yearly purchases of eggs by 5 percent, for these consumers,
a. the income elasticity of eggs equals approximately 1.05. b. the income elasticity of eggs is 0.5. c. eggs are a luxury good. d. eggs are an inferior good.
Maria and Jose installed a "nanny-camera" in their home so that they can view how the nanny is interacting with their children while they are at work. What type of problem are they trying to combat?
Fred learns that a group, Butterfly Propaganda, is lobbying to get tax money to build little wooden buildings for migrating butterflies to stay in. He thinks this is a waste of money, and he feels pretty sure most people would agree with him and his desire to cut off the funding for Butterfly Propaganda. Why doesn’t Fred take action and challenge Butterfly Propaganda?
a. There is no way he could beat a powerful special interest group. b. Only elected representatives can pose a challenge to how tax dollars are distributed. c. The government sets the budget years in advance, and he would see no immediate change in funding. d. The personal cost of fighting them would far outweigh the cost of his few tax dollars that go to them.