[Online Document Assignment:]
EIA Activity: Spain’s Costly Surplus
Click on the links on the right to answer the following questions.
Use Link 1 to answer the following questions.True or False: Spain joined the European Union in 1986.
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True or False: On January 1, 1999, Euro banknotes and coins were introduced in Spain.
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Use Link 2 to answer the following questions. True or False: Spain’s housing bubble burst in 2010.
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True or False: Many of the new jobs created by the housing bubble were considered low-wage, low-productivity jobs such as construction and domestic services.
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True or False: As a result of massive investments in the real estate bubble, Spain’s banking sector became destabilized.
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| B. |
True or False: In June 2010, Euro area governments provided funds to the Spanish government to recapitalize Spanish banks.
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| B. |
Discussion Question:
Why did it take three years to introduce Euro banknotes and coins since the country adopted the Euro in 1999? Discuss.
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