To prevent nations with an inflation bias from entering the Eurozone, the Maastricht criteria for accession include:
A) a trial period of joining the Eurozone to see how they fare.
B) a three-month period of low interest rates.
C) a lengthy trial period of demonstrated commitment to low inflation before joining.
D) promises and written commitments to low deficits and debt reduction on entering.
Ans: C) a lengthy trial period of demonstrated commitment to low inflation before joining.
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Deposit insurance and government's willingness to help distressed banks have virtually eliminated the potential for serious bank runs
a. True b. False Indicate whether the statement is true or false
Because the supply curve for land is inelastic, the price of land ______.
a. falls when the supply falls b. is determined by demand c. does not shift with demand d. rises when supply falls
Which would not be considered as capital (or an economic resource) by an economist?
a. A crane used by a building contractor b. A share of corporate stock issued by General Motors c. An automobile used by General Electric d. A razor used by a barber
Suppose that the market labor supply and labor demand equations are given by Qs = 5W and Qd = 30 - 5W. If a minimum wage is set at $4.00 (W = 4), then:
A. 15 workers will be supplied and demanded. B. 10 workers will be supplied, but 20 workers will be demanded. C. 20 workers will be supplied, but only 10 workers will be demanded. D. 20 workers will be supplied and demanded.