Provide a short account of how the Euro came in to existence? When were the first agreements reached? When was it established as a unit of account? When did it start circulating?
What will be an ideal response?
March 1979, EMS is established; January 1994, the European Monetary Institute is formed; January 1st, 1999, the euro is established as a unit of account, and thus the currencies are fixed; January to July, 2002, the period in which the euro coexist with the disappearing currencies.
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According to recent public opinion polls, what percentage of Americans are satisfied with the quality of the medical care they receive?
a. 15 percent. b. 40 percent. c. 65 percent. d. 70 percent. e. 90 percent.
Which of the following is a reason why a bank may hold excess reserves?
a. It earns more interest on reserves than on loans. b. It is required to do so. c. It may want flexibility to increase its loans if interest rates rise in the near future. d. Banks often expect a drop in the required reserve ratio. e. Banks often expect a rise in the required reserve ratio.