Most members of the European Union _____.
(A) Only import and export goods using a flexible exchange rate system.
(B) Imposed high tariffs on all exports beginning in 1986.
(C) Have switched their currencies to the euro.
(D) Only trade goods with neighboring countries.
Ans: (C) Have switched their currencies to the euro.
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The figure above shows the market for coffee. If 30 pound of coffee a month are available, the ________ price that consumers are willing to pay for the last pound is ________
A) maximum; $4.00 B) minimum; $4.00 C) maximum; $2.50 D) minimum; $2.50
Which of the following is not a reason for low savings in poor households:
a. low income b. unstable income c. irrational spending patterns d. unfamiliarity with in financial institutions e. all are good reasons for low savings