Which of the following pairs of countries were admitted to the European Union in 2007?
A. Croatia and Kosovo.
B. Romania and Bulgaria.
C. Switzerland and Hungary.
D. Tunisia and Liechtenstein.
B. Romania and Bulgaria.
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A new bank has reserves of $600,000, checkable deposits of $500,000, and government securities of $100,000. If the desired reserve ratio is 10 percent, the amount of loans this bank can make is
A) $60,000. B) $550,000. C) $50,000. D) $600,000. E) $540,000.
After John's income rose by 8 percent, the amount of chicken he consumed fell by 2 percent. This means that
a. his income elasticity for chicken is positive b. chicken is a normal good for John c. his demand curve for chicken shifted to the left d. his demand curve for chicken shifted to the right e. John is spending more of his income on chicken than before
Crowding out refers to the fall in
a. investment spending caused by higher taxes b. consumption spending caused by higher taxes c. consumption spending caused by higher levels of government spending d. government spending to do a balanced budget amendment e. private investment caused by an increase in government spending
If the public decides to hold less currency and more deposits in banks, bank reserves
a. decrease and the money supply eventually decreases. b. decrease but the money supply does not change. c. increase and the money supply eventually increases. d. increase but the money supply does not change.