A. the marginal cost of production does not equal society’s marginal benefit
B. the distribution is inequitable
C. economic growth is low
D. unemployment is high
A. 61.8%
B. 67.5%
C. 59.6%
D. 74.8%
A. inefficient
B. normative
C. unattainable
D. efficient
A. Theory of factor endowments
B. Theory of overlapg demands
C. Economies of scale theory
D. Product life cycle theory
A. 65%
B. 70%
C. 80%
D. 85%
A. Car licenses are very expensive vehicle entry to the city center is very restricted road pricing is being introduced and modern cheap rail transport is being expanded.
B. London
C. Athens
D. Singapore
E. New York
A. Money supply is more difficult to control in a currency union.
B. The inflation-unemployment trade-off is more unstable in a currency union
C. All of these answers describe problems for monetary policy in a currency union
D. The interest rate may be higher than is appropriate for economic conditions in some countries while it’s lower than is appropriate in some others monetary policy must be one size fits all