The primary function of the World Bank is to:
a. lend money to the World Trade Organization.
b. provide loans to countries experiencing huge budget deficit.
c. finance economic development in poor countries.
d. assist countries experiencing balance of payments deficits.
e. finance the fiscal stabilization program of the U.S. government.
c
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Answer the next question on the basis of the data given for two regions, East and West, of a hypothetical world. The nations have the production possibilities for units of food and clothing given below.East Production PossibilitiesWest Production Possibilities ABCD ABCDFood241680Food4530150Clothing04812Clothing051015Which of the following is true?
A. For the West region, the cost of 5 units of clothing is 10 units of food. B. For the East region, the cost of 8 units of food is 8 units of clothing. C. For the West region, the cost of 15 units of food is 5 units of clothing. D. For the East region, the cost of 4 units of clothing is 6 units of food.
Adverse selection refers to when:
A. one party to a transaction has more information than the other and this results in a bargaining dispute. B. one party selects the wrong strategy and they are displeased with their selection. C. one party to a transaction has more information than the other and transactions occur less frequently due to the information asymmetry. D. neither party is willing to be party to a transaction because they don't have enough information.
Interest rates in the economy have risen. How will this affect aggregate demand and equilibrium in the short run?
A) Aggregate demand will rise, the equilibrium price level will fall, and the equilibrium level of GDP will rise. B) Aggregate demand will fall, the equilibrium price level will rise, and the equilibrium level of GDP will fall. C) Aggregate demand will fall, the equilibrium price level will fall, and the equilibrium level of GDP will fall. D) Aggregate demand will rise, the equilibrium price level will rise, and the equilibrium level of GDP will rise.
Which group opposed having lots of money in the economy after the Civil War and before World War I?
(a) Those individuals with debt (businesses) (b) Those buying and selling commodities (farmers) (c) Those providing credit through deposits and other venues (wealthy and savers) (d) Those benefitting from rising wages and prices