Microfinance refers to:
A. Small-size stock markets with very limited capitalization
B. A system of providing credit to small-business owners
C. Bond markets for governments of small nations
D. Deposits in small banks in developing nations
B. A system of providing credit to small-business owners
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As McDonald's expanded globally, it was able to achieve:
A) economies of scope. B) economies of scale. C) diseconomies of scale. D) none of the above.
When consuming a good creates positive externalities,
a. private demand increases b. private demand decreases c. the private demand curve overstates the marginal social benefit of the good d. the private demand curve understates the marginal social benefit of the good e. the equilibrium quantity increases without government intervention
Which of the following is not true concerning economic growth?
A. It can be sustained in the short run but not the long run. B. It means that the production possibilities have expanded. C. It's the result of more resources or better technology. D. It is an increase in real GDP.
The war in Iraq comes to an end. Iran and Afghanistan lay pipes to generate more oil. The United States and Venezuela enter into an era of friendship. Which of the following correctly captures the effect of this change on the market for gasoline?
A. Both equilibrium quantity and price will increase. B. Both equilibrium quantity and price will decrease. C. Equilibrium quantity will decrease, but equilibrium price will increase. D. Equilibrium quantity will increase, but equilibrium price will decrease.