To join the EMU, a country must have
A) a public-sector deficit no higher than 3 percent of its GDP in general.
B) a public-sector deficit no higher than 2 percent of its GDP in general.
C) a public-sector deficit no higher than 1 percent of its GDP in general.
D) a zero public-sector deficit.
E) a public-sector deficit no higher than 4 percent of its GDP in general.
A
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According to this Application, during the late 1980s, Argentina pegged its currency to the U.S. dollar. After 1995, the U.S. dollar appreciated sharply on world markets. Since the Argentinean peso was pegged to the U.S
dollar, the appreciation of the dollar essentially caused A) the peso to appreciate relative to the dollar, but depreciate on world markets. B) a sharp devaluation of the dollar relative to the peso. C) a severe revaluation of the peso relative to the dollar. D) the peso to also appreciate sharply on world markets.
Figure 4-22
Refer to . The price paid by buyers after the tax is imposed is
a.
$1.00.
b.
$3.50.
c.
$5.00.
d.
$6.00.