Which of the following operate under a fixed-rate unified currency system?

a. the 12 countries of the European Monetary Union
b. the 50 states of the United States
c. Hong Kong, Panama, and the United States
d. all of the above

D

Economics

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By engaging in trade and acting in their own self interest, World War II POWs were following the economic principle of

A) division of labor. B) international trade. C) voluntary exchange. D) comparative advantage.

Economics

Lucy works as a college instructor for a fixed annual salary of $30,000. She is considering quitting this job and becoming a real estate broker

Lucy believes that as a realtor she has a 40 percent chance to make $60,000 per year and a 60 percent chance to make $25,000 a year. The figure above shows Lucy's total utility of wealth curve (U). Lucy will decide to ________ and she will definitely make this choice because it gives her a greater expected ________. A) keep her current job; income B) keep her current job; utility C) quit her job and become a realtor; utility D) quit her job and become a realtor; income

Economics