The OCA of the European Union falls short of the United States, for each of the following reasons, EXCEPT:
A) labor market integration in the European Union is weaker.
B) goods market integration in the European Union is weaker.
C) fiscal transfers are negligible.
D) the European Union has more asymmetric shocks.
Ans: D) the European Union has more asymmetric shocks.
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When the price level goes up, the purchasing power of the dollar
A) varies directly with the value of the euro. B) remains constant. C) also increases. D) falls.
Which of the following must be true if the short-run average total cost curve is declining? a. Marginal cost is less than average total cost
b. Marginal cost is less than average variable cost. c. Marginal cost is greater than average total cost. d. Marginal cost equals average total cost.
In terms of economic growth, educated workers are generally:
A. more productive. B. less productive. C. less healthy. D. happier.
In a recession, typically
A) unemployment rises. B) the employment-to-population ratio decreases. C) the employment-to-population rate rises. D) the labour force participation rate rises. E) both A and B are correct.