Which of the following best defines an optimum currency area?
A) a group of nations sharing the same currency
B) a group of regions in close proximity to each other.
C) a group of regions who operate under similar economic policies.
D) a group of regions with economies closely linked by factor mobility and by trade in goods and services
E) a group of nations that engage in free trade with each other
D
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Which of following was a period of below-average economic growth in the United States?
A) the 1920s B) the 1960s C) the 1930s D) all of the above
Which of the following will cause the consumption schedule to shift upward?
a) an increase in the amount of consumer indebtedness b) a reduction in the wealth or assets held by consumers c) an expectation in future declines in the consumer price index d) an expectation of future shortages of essential consumer goods e) a growing belief that personal income will decline in the future