The economic costs of forming a currency union will be lower whenever:
A) labor market integration is lower.
B) labor market integration is higher.
C) labor markets are not integrated.
D) wage rigidities are present.
Ans: B) labor market integration is higher.
Economics
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Refer to the scenario above. If there is fairness penalty of $12, ________
A) this game will no longer have a Nash equilibrium B) this game will have two Nash equilibria C) Nash equilibrium will occur when both of you choose "friend" D) Nash equilibrium will occur when both of you choose "foe"
Economics
With positive externality, _____
a. underproduction causes deadweight loss b. overconsumption causes deadweight loss c. net social welfare is maximized d. the true cost of a transaction is borne by the participants
Economics