Which of the following is true of the transition process of individual European currencies to the euro?
A. Actual paper and coin currencies in circulation in individual countries were converted to dollars.
B. Bank balances in these countries were converted to euro-denominated deposits.
C. The gold deposits that were kept by the individual countries with their central banks were recalled.
D. The transition process was complicated and time consuming.
Answer: B
You might also like to view...
Since the last recession interest rates have been very low. Also it is generally known that we are close to major breakthroughs in solar energy and battery storage technology. How would these two factors impact the price of oil today?
A. The first factor will decrease the price of oil today and the second factor will tend to increase the present price. B. Both factors will work to decrease the price of oil today. C. The first factor will increase the current price of oil and the second factor would tend to decrease oil prices today. D. Both factors will work to increase the current price of oil.
If a small country imposes a tariff on imported motorcycles
A. the surplus of both the domestic producers and consumers of motorcycles will decline. B. the surplus of both the domestic producers and consumers of motorcycles will increase. C. the surplus of the domestic producers of motorcycles will increase, but the surplus of the domestic consumers will decline. D. the surplus of the domestic producers of motorcycles will decline, but the surplus of the domestic consumers will increase.
If the equilibrium price of an hour with a personal trainer is $45 and the market price is currently $55, then there is
A. a surplus of personal trainers. B. a shortage of personal trainers. C. equilibrium.
________: a decline in the value of the U.S. dollar relative to other currencies so that the dollar buys less foreign currency than before
Fill in the blank(s) with correct word