In general, the IMF provides developing countries with:
A. loans and lets these countries decide how the loans will be used.
B. technical advice but does not provide them with loans.
C. loans, but only if the government adopts certain policies specified by the IMF in return.
D. neither loans nor technical advice.
Answer: C
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When manufacturers and distributors establish credible commitments to one another, they often employ
a. vertical requirements contracts b. third-party monitoring c. credible threat mechanisms d. non-price tactics
Wages and prices are many times higher today than they were 30 years ago, yet people do not work a lot more hours or buy fewer goods. How can this be?
An “optimally imperfect” decision is one that
A. is vaguely right instead of precisely wrong. B. recognizes that the decision could always be better if given more time. C. recognizes that the cost of additional information probably exceeds the potential gain from making a better decision. D. recognizes that any decision is imperfect because humans have limited intellectual capacities.
Figure 4-22
Refer to . Sellers pay how much of the tax per unit?
a.
$1.00.
b.
$1.50.
c.
$2.50.
d.
$3.00.