Shortly after their admission into the EMU, Ireland and the Netherlands
A) both seceded from the EMU.
B) were expelled due to high levels of debt.
C) breached the inflation convergence criterion that had qualified them for admission to the EMU in the first place.
D) achieved inflation rates of zero percent.
E) abandoned the Euro as their national currency.
C
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The trade-off between current consumption and the production of capital goods is also a trade-off between
A) the future cost for capital goods and future cost of consumption goods. B) having fewer needs and more wants in the future. C) satisfying the needs of the poor and the wants of the wealthy. D) current consumption and future consumption.
List the reasons why the actual multiplier, which is estimated to be less than 2 for the U.S. economy, is much less than what the oversimplified formula suggests