Will a monetary union be established in Europe before the end of this century? Prior to the establishment of a monetary union within the European Union, countries are expected to meet designated criteria regarding their interest rates, inflation rates, government finances and exchange rates.
The change in business inventory has always played a major role during downturns in the business cycle. Innovations in inventory management, such as “just-in-time” methods and computerized stock management using bar code scanning, have become more popular over the last decade.
Two objections to making price stability the primary objective of monetary policy are (1) moderate inflation is good for the economy and (2) it is less costly to live with moderate inflation than to eliminate it.
An inefficient business wastes resources, either by producing less than the feasible level of output from a given amount of input or by using excessive input to produce a given amount of output. Researchers often find that banks are quite inefficient, but don’t agree on how best to measure that inefficiency, or even how to measure bank production.
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