Higher productivity is the most direct route to higher living standards
a. True
b. False
A
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For a given domestic and foreign price level, a decrease in the nominal exchange rate ________ the real exchange rate.
A. decreases B. increases C. offsets any change in D. may either increase or decrease
In a competitive market equilibrium:
A) social surplus is minimized. B) all the gains from trade are not realized. C) there is Pareto efficiency. D) all the firms earn positive economic profits.
The founding document of the European Economic Community, and the document that continues to provide the basis for the European Union is the
A) Treaty of Brussels. B) Delors Report. C) Treaty of Rome. D) Single European Treaty. E) Maastricht Treaty.
The federal funds market is the market in which:
a. banks borrow from the Fed. b. bank customers borrow from their banks c. banks borrow from each other. d. the federal government borrows from the Fed. e. the federal government borrows from members of the general public.