Technically, the ECB has a dual mandate of price stability and support of the European economies; but in practice, it seems to favor ______ over ______.
A) lowering unemployment; controlling inflation
B) promoting equality; lowering unemployment
C) price stability; economic performance, growth, and employment
D) women's rights; lower taxes on small business
Ans: C) price stability; economic performance, growth, and employment
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Contracts are: a. are command-based systems in which prices usually play a relatively small role. b. a set of promises intended to create economic value and enforceableby a court or some other agency, such as an arbitrator
c. are a mode of governance that facilitate the purchase and sale of standardized goods or services, often in repeated transactions. d. economic institutions that can greatly ease the process by which a transaction moves from proposal to commitment.
Which of the following statements is TRUE about the market demand curve for labor?
A) The market demand curve is the sum of the individual firm's demand curve. B) The market demand curve will be perfectly inelastic since firms need labor. C) The market demand curve shows the quantities of labor demanded by all firms in the industry at various marginal products. D) The market demand curve depends upon labor productivity, the wage rate and the price of the final product.