Which of the following is NOT a criticism of international institutions such as the IMF, the World Bank, or the WTO?
A) They violate national sovereignty by imposing unwanted domestic policies.
B) They fail to understand the effects of their policies on the vulnerable.
C) Their decision-making is biased in favor of underdeveloped nations.
D) They ignore potentially large adjustment costs for developing nations of implementing their policies.
C
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Suppose that when one person consumes a good, it is possible to provide it to others at no additional cost. Such a good is called
a. nonexcludable. b. nonrivalrous. c. a free good. d. a Clarke good.
Educational services provided by public schools are:
A. excluded from GDP because they are intermediate goods. B. included in GDP at market prices. C. excluded from GDP because they are not sold in markets. D. included in GDP at cost.
An increase in the amount of resources would shift the long-run aggregate supply curve:
A) rightward. B) leftward. C) no shift. D) none of the above.
Slick Shades has a constant marginal cost of production equal to $40 and the distributors have a constant marginal cost of distribution equal to $20. If Slick Shades is producing the profit-maximizing number of sunglasses (in hundreds), what is the profit-maximizing wholesale price?
The figure above shows the wholesale demand and marginal revenue curves for Slick Shades Sunglasses, a sunglasses firm with market power. Slick Shades Sunglasses has a constant marginal cost of production and it sells to perfectly competitive independent retail distributors that have a constant marginal cost of distribution.
A) $110
B) $120
C) $140
D) $130