Which of the following is a drawback to having a common currency across countries, as in the European Union?
A) Having a common currency implies that the prices of goods across countries must always be the same, regardless of consumer preferences for goods across countries.
B) A common currency increases barriers to trade across countries, reducing opportunities for economic growth.
C) With a common currency, individual countries are no longer able to run independent monetary policies.
D) None of the above is a drawback to a common currency.
C
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Eminent domain _____
a. is when government forces holdouts to sell b. can be used by special interest for public gain c. is the only way to solve the holdout problem d. a and b e. b and c
The balance of trade for Ireland is measured by which of the following?
a. the value of Irish exported goods and services minus the value of goods and services imported into Ireland b. the value of income receipts on Irish investments abroad minus income payments on foreign investments in Ireland c. the value of Irish merchandise exports minus the value of merchandise imports into Ireland d. the balance on Irish capital account minus the balance on Irish current account e. the balance on Irish capital account plus the balance on Irish current account