According to the text, what is the major long-run issue facing the European Union?
What will be an ideal response?
An aging population
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In the 1770s the per capita income in the colonies:
a. was higher than the per capita income in developing countries today. b. was significantly lower than the per capita income in England during the same period. c. was impossible to determine due to inaccurate and incomplete data. d. was lower than the current per capita income in developing countries..
In response to an increase in AD: a. The price level will increase more in the long run than in the short run
b. Real output will increase more in the long run than in the short run. c. Both the price level and real output will increase more in the long run than in the short run. d. Neither the price level nor real output will change in the long run.
During the economic downturn of 2008-2009, the Federal Reserve
a. used open-market operations to purchase mortgages and corporate debt, just as it frequently does even when the economy is functioning normally. b. took the unusual step of using open-market operations to purchase mortgages and corporate debt. c. explicitly set its target rate of inflation at zero. d. explicitly set its target rate of inflation well above zero.
Similarly to the Latin American region, the high-growth Asian economies experienced a Lost Decade in the 1980s
Indicate whether the statement is true or false