PPP is the acronym for:
A. producer purchasing power.
B. purchasing power parity.
C. producer power parity.
D. purchasing price power.
B. purchasing power parity.
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If a currency union lowers the cost of trade and therefore promotes increased trade, the Euro-optimists believe that:
A) a currency union at some point will no longer be necessary. B) at some point the OCA criteria will be satisfied. C) the benefits of having an independent monetary policy will outweigh the benefits from the currency union. D) the currency union may never be beneficial to an individual nation, but it does reduce political tension in large regions.
Crude oil can be refined into home heating oil or gasoline. If very cold weather caused the price of home heating oil to increase then, the
A) supply of gasoline would increase. B) demand for gasoline would increase. C) equilibrium price of gasoline would rise. D) Both answers A and C are correct.