The European Commission is comprised of ________.
A) 20 people, two people from each of the member countries
B) 56 people, two people from each of the member countries
C) 28 people, one person from each of the member countries
D) 12 people, one person from each of the member countries
C) 28 people, one person from each of the member countries
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Which of the following benefits from a quota or VER?
A) domestic producers B) the government C) consumers D) all of the above
If personal income minus transfer payments is rising, real GDP is most likely
A) rising. B) falling. C) remaining stable. D) getting ready to fall.
The Fed's power to set the required reserves of commercial banks:
a. provides a certain source of interest income for commercial banks. b. allows the Fed to control the lending ability of commercial banks and, thereby, control the money supply. c. prevents banks from hoarding too much vault cash. d. prevents commercial banks from earning excess profits.
If the inflation rate is decreasing while unemployment is decreasing: a. the short-run Phillips curve must have shifted right
b. the short-run Phillips curve must have shifted left. c. it involved a movement along the short-run Phillips curve. d. it would be inconsistent with any possible Phillips curve scenario.