Two of the "Convergence Criteria" Pertaining to Initial Membership in the EMU

question 18

Multiple Choice

Two of the "convergence criteria" pertaining to initial membership in the EMU were that a country's ratio of government debt to GDP must be __________ and that a country's ratio of government budget deficit to GDP must __________.

• A) 60 percent or less; 3 percent or less
• B) 60 percent or less; 60 percent or less
• C) 3 percent or less; also be 3 percent or less
• D) 3 percent or less; 60 percent or less

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Definitions:

Computing Power

The capacity of a computer system to process or calculate data, measured in terms of speed and efficiency.

Sense of Urgency

is the feeling that one’s actions must be immediate and rapid to accomplish goals or respond to situations.

Annual Growth Rate

The percentage increase in the value of something over a one-year period, often used to measure the expansion of a company or economy.

Expansive Industry

An industry experiencing growth and enlargement, encompassing a wide range of activities and services.