Criticisms of the ECB center on its primary focus on ______ with less (but perhaps more needed) focus on _______.
A) unemployment and GDP growth; exchange rates
B) exchange rates; inflation problems
C) price stability; unemployment and GDP growth
D) political cohesiveness; price stability
Ans: C) price stability; unemployment and GDP growth
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A firm's total revenue
a. can be read off the demand curve it faces, but only if we know total cost of production b. can be read off the demand curve it faces, but only if we know how must output the firm sells c. is found by multiplying price per unit by the number of units produced and sold d. is equal to profit when inputs are fixed in the short run e. will be positive at any level of output
If a country's currency appreciates, which of the following will most likely happen?
a. Net exports will fall and aggregate demand will increase. b. Net exports will rise and aggregate demand will increase. c. Net exports will fall and aggregate demand will decrease. d. Net exports will rise and aggregate demand will decrease.