Economist Richard Baldwin says the optimism about the Eurozone may be unjustified. His research suggests trade increases in the Eurozone as a result of the currency union:
A) are much larger than previous estimates or forecasts and likely to show future gains.
B) are much smaller than previous estimates or forecasts and unlikely to show future gains.
C) are less stable and subject to wide variations.
D) could be much larger if poor and unstable economies were not in the Eurozone.
Ans: B) are much smaller than previous estimates or forecasts and unlikely to show future gains.
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The consumption function shows
A) a positive relationship between an individual's stock of wealth and his level of planned consumption. B) a negative relationship between planned consumption and aggregate saving. C) a positive relationship between disposable income and planned consumption. D) a negative relationship between disposable income and planned consumption.
If an employer pays employees according to the volume of business revenue they individually generate, then the employer is applying the
A. contributive standard. B. productivity standard. C. merit standard. D. all of these.