Suppose that the United Kingdom pegs the pound to the euro. If all other things remain unchanged, what would you expect to happen to European GDP if all countries who use the euro decided to adopt contractionary fiscal policies?
A) It would rise.
B) It would fall.
C) It would not change.
D) That cannot be determined using the information provided.
Ans: B) It would fall.
Economics
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Use the figure below to answer the following question.
The total benefit of the third unit of X is ________.
A. 4 B. 5 C. 15 D. 11
Economics
In the above figure, assuming Firm 1 and Firm 2 are the sole producers in the industry, the industry quantity supplied at price P2 is equal to
A. Q1 + Q3. B. Q1 + Q2. C. Q2 + Q4. D. Q4 - Q2.
Economics