According to the principle of subsidiarity, in which of the following areas should the authority for making decisions be taken from national governments and given to the EU?
A) Pollution of a trans-national waterway
B) Limits on the hours retails stores are allowed to be open
C) Highway traffic laws
D) Recycling requirements on packaging
E) All of the above.
A
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The OPEC oil shocks in 1973-1974 are an example of:
A) favorable supply shock, shifting the short-run aggregate supply curve rightward. B) favorable supply shock, shifting the short-run aggregate supply curve leftward. C) adverse supply shock, shifting the short-run aggregate supply curve rightward. D) adverse supply shock, shifting the short-run aggregate supply curve leftward.
Refer to Figure 4.3. All else equal, a decrease in the desire of households to consume today accompanied by an increase in corporate taxes would cause which of the following shifts?
A) S1 to S2 and D1 to D2 B) S2 to S1 and D1 to D2 C) S1 to S2 and D2 to D1 D) S2 to S1 and D2 to D1