Productivity gains on southern cotton plantations were due to:
a. improved varieties of seeds.
b. use of the gang system.
c. longer work hours.
d. All of the above.
e. Both a and b are correct.
e. Both a and b are correct.
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The opportunity cost of holding money is measured by
A) the interest yield that could have been earned by holding some other asset. B) the liquidity of interest-bearing assets. C) the price of government bonds. D) a dollar.
The rules for joining the Eurozone specified monetary economic conditions that the potential entrants had to achieve for admission. The convergence criteria of the ECB were:
A) moderate inflation, low unemployment, and adequate foreign currency reserves. B) no national debt and no current account deficits within the past five years. C) inflation rates roughly matching the lowest in the Eurozone, stable exchange rate peg for two years, and equivalent long-term interest rates. D) a stable political situation, high GDP growth rate, and moderate unemployment