Criteria for an optimum currency area include all the following except

A. extensive trade with each other.
B. a common language.
C. similar business cycle patterns.
D. fiscal transfers.

Answer: B

Economics

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Given the level of real GDP, the equilibrium level of the interest rate depends on the

A) demand for money. B) monetary-fiscal policy mix. C) size of the multiplier. D) extent of crowding out.

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Normative economic statements

A) are statements of "what ought to be." B) are statements of "what is." C) are statements that may be tested by referring to facts and data. D) do not involve value judgments.

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