If economic costs outweigh benefits from joining a currency union, a nation may still choose to join because of:
A) political pressure from the large nations.
B) large political benefits.
C) the fear of floating.
D) the ability to limit imports.
Ans: B) large political benefits.
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Suppose all of the major computer manufacturers announced that beginning next month there would be major price reductions on their computers. This would cause the current demand for computers to:
a. increase. b. decrease. c. remain unchanged. d. increase and then decrease.
In January, 2,500 quarts of ice cream are sold in Boston at $2 per quart. In February, 3,000 quarts are sold at $2.50 a quart. This change in the price and quantity sold of ice cream may have been caused by: a. a reduction in wages in the Boston area
b. the introduction of labor-saving, automated ice cream packing machinery. c. the release of a medical study showing that ice cream consumption improves mental health. d. the decision by Boston ice cream sellers to eliminate discount coupons.