The goal of the Single European Act (or Europe 1992 initiative) is to
A) develop uniform product standards for all EU countries.
B) remove nontariff barriers to trade between EU countries.
C) deregulate economic activities in transportation and financial services.
D) All of the above.
D
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Refer the above figure. Suppose the union sets the wage rate that will maximize the total income for the members who work. The total wages will be
A) W1iL4O. B) W2aL3O. C) W3bL2O. D) W3bhW1.
In the circular-flow diagram,
a. profit flows from households to firms. b. labor flows from households to firms. c. services flow from households to firms. d. All of the above are correct.
Efforts to increase homeownership include all the following EXCEPT
A) requiring lower down payments. B) penalizing first-time homebuyers for using funds from IRA's. C) requiring loan applicants to have better credit. D) lowering closing costs for first-time home buyers.
Suppose there are two countries that are identical in every way with the following exception: Country A has a lower depreciation rate (?) than country B. Given this information, we know with certainty that
A) the growth rate will be the same in the two countries. B) the growth rate will be higher in A than in B. C) K/N will be higher in B. D) Y/N will be higher in B.