The convergence criteria included that a country:
A) should maintain a deficit of 6% of GDP.
B) can have a debt level equal to 80% of GDP.
C) can have a debt level equal to 60% of GDP.
D) should maintain a deficit lower than 1% of GDP.
Ans: C) can have a debt level equal to 60% of GDP.
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A record of all transactions between residents of the reporting country and residents of the rest of the world over a period of time is called the:
A) national income product accounts. B) balance of payments accounting system. C) accrual accounting system. D) none of the above.
Which of the following is NOT regarded as a source of inefficiency in monopolistic competition?
A) The fact that price exceeds marginal cost B) Excess capacity C) Product diversity D) The fact that long-run average cost is not minimized E) all of the above