A multinational organization dedicated to providing financial and technical assistance to developing countries is called the:
A. World Bank.
B. United Nations Development Plan.
C. International Monetary Organization.
D. World Trade Organization.
A. World Bank.
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If the marginal profit of the next unit is negative, the firm should produce more output in order to generate greater profit.
Answer the following statement true (T) or false (F)
The figure above shows the demand for and supply of labor of students in Smallville. If the minimum wage is set at $8 per hour, how many hours do students work?
A) 12,000 hours B) 9,000 hours C) 6,000 hours D) None of the above answers is correct.
Suppose that GDP is equal to 1000, national saving is equal to 200, the current account deficit is equal to 100, and the government budget deficit is equal to 50. Private savings must equal
A) 150. B) 200. C) 250. D) 300.
Tom walks Bethany's dog once a day for $50 per week. Bethany values this service at $60 per week, while the opportunity cost of Tom's time is $30 per week. The government places a tax of $35 per week on dog walkers. After the tax, what is the loss in total surplus?
a. $50 b. $30 c. $25 d. $0