Many nations have formed customs unions that ended tariffs and trade restrictions among its members, and adopted uniform tariffs for nonmember countries. Which of the following is a successful example of such a customs union?
(A) Asia-Pacific Economic Cooperation (APEC)
(B) World Trade Organization (WTO)
(C) European Union (EU)
(D) North American Free Trade Agreement (NAFTA).
Ans: (C) European Union (EU)
Economics
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Inventories include each of the following except
A) unsold finished goods. B) goods in process. C) raw materials held by firms. D) office equipment.
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Given the strict quantity theory of money, if the quantity of money doubled, prices would:
a. fall by half. b. double. c. remain constant. d. increase somewhat but less than double.
Economics