To join the EMU, a country should have no more than
A) 1.5 percent inflation rate above the average of the three EU member states with the highest inflation.
B) 3 percent inflation rate above the average of the three EU member states with the lowest inflation.
C) 4 percent inflation rate above the average of the three EU member states with the lowest inflation.
D) 1.5 percent inflation rate above the average of the three EU member states with the lowest inflation.
E) 2 percent inflation rate above the average of the three EU member states with the lowest inflation.
D
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The textbook asserts that banks create money themselves. How?
A) Banks have their own printing presses, which is permitted by the Fed. B) Banks are allowed to reach well into their required reserves as long as they can demonstrate that it would be profitable to do so. C) Banks, when lending out their excess reserves, unleash a process that can increase the money supply through the deposit expansion multiplier. D) For all of the above reasons.
After analyzing his opponent a tennis player decides to serve 10% of his serves to the left, 50% of his serves to the right, and 40% of his serves at the body of his opponent. This illustrates a
A) deterministic strategy. B) dominant strategy. C) mixed strategy. D) non-game theoretic problem.
The value of a model is determined by
A) the usefulness of its predictions in the real world. B) the extent of the profit earned by applying it. C) the realism of its assumptions. D) the model's attention to real world details.
Systemic risks are most likely to exist with regard to
a. small governments. b. large governments. c. small financial institutions. d. large financial institutions.