Which of the following statements is correct?
I. The ERM used the Deutsche Mark as the base or center currency.
II. The ERM allowed the Italian central bank autonomy over its policies.
III. The ERM allowed the Bundesbank monetary autonomy.
A) I only
B) II only
C) III only
D) I, II, and III
Ans: D) I, II, and III
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Which of the following is true? a. A good for which the marginal utility of the last unit of a good consumed is greater will provide more total utility from consumption of the good. b. If marginal utility is positive but diminishing, total utility increases with consumption of a good
c. If marginal utility is diminishing, total utility must be diminishing. d. Total utility is equal to the change in marginal utility from consuming an added unit of a product.
Which of the following statements is true?
a. The share of income going to labor has increased during periods when union membership has increased as a proportion of the U.S. labor force. b. Inflation in the United States has tended to accelerate as the proportion of the U.S. labor force that is unionized has increased. c. Higher wages in the unionized sectors of an economy will also push up wages in the nonunion sectors. d. High real wages cannot be achieved and sustained without increases in output per worker hour.