The official mission of the World Bank is to
A) establish exchange rates between the currencies of member nations.
B) provide funding for needed development projects that would have difficulty attracting private investment.
C) advise member nations on the appropriate levels of taxation.
D) fight global inflation.
B
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A country will have a balance-of- payments deficit when its exchange rate:
A. equals the market equilibrium value. B. is undervalued. C. is overvalued. D. is flexible.
Albert, Betty, Christine and David are all very good students. When they hold their study sessions, they often discuss very difficult concepts in great detail. Christine's roommate, Elizabeth, who takes completely different classes, still learns from the discussions of the others. This is the case of a(n) ____, which ____ a ____
a. public good; benefits; third party b. externality; imposes a cost on; free rider c. market failure; results from; third party d. free rider; benefits from; third party e. Externalities; benefits; third party
In an increasing-cost industry, the long-run market supply curve is
a. horizontal b. vertical c. upward sloping d. downward sloping e. nonexistent
In the production of bicycles an increase of 2 percent in the level of capital and labor respectively will generate an increase of 1 percent in the production of bicycles. From this information we know that the production of bicycles exhibits
A. decreasing returns to scale. B. increasing returns to scale. C. constant returns to scale. D. diminishing marginal returns.