In practice, under the EMS, a member country
A) could never change its interest rate.
B) could change its interest rate only if other countries changed theirs as well.
C) must apply to a special European Commission in order to change its interest rate.
D) had complete freedom in choosing the interest rate it wanted.
E) had complete freedom in choosing its interest rate only if it is a very small country.
B
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The production possibilities curve represents the set of all
A) nonlinear forms of production in the economy. B) combinations of goods and services that can be used in the production of other goods and services. C) factors of production that can be used to manufacture goods and services. D) feasible combinations of goods that the economy can produce given that a nation's resources are fully employed.
If a meat shop owner sells meat to a restaurant and, in the evening, visits the same restaurant to enjoy some barbeque, then the amount paid by the meat shop owner to the restaurant will be counted twice in the GDP
a. True b. False Indicate whether the statement is true or false