When the domestic currency strengthens under a fixed exchange-rate system, this is called

With the full implementation of the Single European Act, the EU became a

A) common market. B) free trade area. C) customs union. D) economic union. E) None of the above.

The best economic case one can make for an active industrial policy involves

A) the national security argument. B) the technological spillover argument. C) the environment preservation argument. D) the high value added argument. E) raising the national income.