In 1992 the EEC was replaced by the EU with an agreement to:
a. reduce trade barriers among the member countries.
b. reduce trade barriers against nonmember countries.
c. mutually restrict imports from nonmember countries.
d. create a single market for goods and services in western Europe.
e. enable the countries of Western Europe to emerge as major world powers.
d
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If the price of oil, a close substitute for coal, increases then the
A. supply curve for coal will shift to the right. B. demand curve for coal will shift to the right. C. equilibrium price and quantity of coal will not change. D. demand curve for coal will shift to the left. E. supply curve of coal will shift to the left.
Although a corporation that is owned by its member banks, the Federal Reserve System
A. reports directly to the president in an annual report. B. is quite independent of them, and they receive almost none of the Fed’s profits. C. is administered by Congress and all its profits are distributed to the member banks. D. turns all its profits over to the state governments of each district bank.
Under Keynesian analysis, aggregate demand can be written as
A) Yad = C + I + G + NX. B) Yad = C + I + G - NX. C) Yad = C - I - G - NX. D) Yad = C + I - G - NX.
As income and production rise, the demand for real money balances will ________ and interest rates will ________
A) fall; fall B) rise; rise C) rise; fall D) fall; rise