Please answer all questions below and submit them in hardcopy to the Departmental Office, EM023 and by email to esmeralda.gassie@ul.ie by Monday, December 4th at 5pm.
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1. The CAP. There are 3 main economic costs associated with the imposition of a large scale and long term price support like the CAP. Briefly describe them, using graphical analysis where appropriate.
2. Costs and Benefits of a Single Currency. The creation of a single currency imposes many costs and benefits on developed economies. Describe 2 costs and 2 benefits to an economy of joining a single currency system.
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