Controversy over the ECB includes all of the following, EXCEPT:
A) its poor performance in controlling euro inflation.
B) its lack of accountability for its actions.
C) its remoteness from democratic control.
D) the perception that the central bank does not focus on problems related to European economic performance.
Ans: A) its poor performance in controlling euro inflation.
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Answer the following questions true (T) or false (F)
1. An externality is an example of a market failure. 2. When products that create positive externalities are produced, at the market equilibrium output, the social benefit generated by consuming the product exceeds the private benefit. 3. An external benefit is created when you pursue a college education.
If a family's income increases by 5% at the same time that inflation is 3.5%, then the:
A. Family will need to spend more in order to maintain its standard of living B. Family will need to spend less in order to maintain its standard of living C. Family's standard of living is not affected by inflation D. Family will need to spend the same amount in order to maintain its standard of living