The first and biggest problem the EU faces in its expansion to the east is
A) the reform of its agricultural subsidy programs.
B) the lack of democracy in the countries that are most likely to become members.
C) the unwillingness of the new members to adopt EU rules.
D) the lack of market economies in the countries that are most likely to become members.
E) the unwillingness of citizens in the new member countries to migrate to higher income countries.
A
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Differences in what can help explain the wage gap between U.S. born and foreign born workers employed in the U.S.?
(a) Gender (b) Schooling (c) Immigration policy (d) All of the above
The aggregate demand curve
A) is like individual demand curves in that prices of other goods are held constant. B) is like individual demand curves in that income is constant. C) differs from individual demand curves in that the aggregate demand curve is not downward sloping. D) differs from individual demand curves in that the aggregate demand curve looks at the entire circular flow of income and product while the individual demand curve looks at only one good.
If a firm experiences economies of scope, per unit production costs fall as it produces more and more of its product
a. True b. False
If a perfectly competitive firm's marginal revenue was less than its marginal cost, a. it would raise its price in order to increase its profits
b. it would contract its output but not raise its price in order to increase its profits. c. it is currently earning economic losses. d. both (a) and (c) are true.