Provide a short account of how the Euro came in to existence? When were the first agreements reached? When was it established as a unit of account? When did it start circulating?
What will be an ideal response?
March 1979, EMS is established; January 1994, the European Monetary Institute is formed; January 1st, 1999, the euro is established as a unit of account, and thus the currencies are fixed; January to July, 2002, the period in which the euro coexist with the disappearing currencies.
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From the perspective of the employer, which of the following might be a substitute for unskilled labor?
A) Computers B) Skilled labor C) Tools D) Electricity E) All of the above.
A country's balance of payments accounts include all of the following EXCEPT the
A) military account. B) current account. C) capital and financial account. D) official settlements account.
Trade contributes to prosperity because: a. every country lacks some vital resources that it can get economically only by trade
b. each country's climate makes it a relatively efficient producer of some goods, and an inefficient producer of other goods. c. each country's labor force makes it a relatively efficient producer of some goods, and an inefficient producer of other goods. d. of all of the above.
Calculate the change in the price level for each of the following events, taken one at a time, with other variables unchanged.(a)Money supply increases 10%.(b)Money demand increases 5%.(c)Money supply decreases 5% while money demand increases 5%.(d)Money supply increases 15% while money demand increases 5%.
What will be an ideal response?