Which of the following statements is TRUE about the success of the World Bank?
A) The World Bank has been successful because it has focused on its primary function of making loans to governments.
B) The World Bank has not been successful because it has focused on making loans to governments where there has been a loss of confidence in a nation's financial system.
C) The World Bank has not been successful because many loans have been made to countries that can attract private funds.
D) The World Bank has been very successful in promoting economic growth because loans have been primarily made to countries that have trouble attracting private funds.
C
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Hyperinflation is defined as periods of
A) inflation over 25 percent per year B) negative price changes. C) low inflation. D) inflation over 50 percent per month. E) inflation under 10 percent per year.
A person's consumption possibilities is defined by the budget line because
A) it marks the boundary between what is affordable and unaffordable. B) it represents the individual's preference for different combinations of goods. C) it marks the boundary between what can be produced and what is unattainable given the current state of technology and resources. D) all consumers must consume on their budget line.
Because trade raises the amount that an economy can produce by letting firms and workers play to their comparative advantage, trade will also cause
a. the average level of wages in an economy to fall. b. the average level of wages in an economy to rise. c. the average number of jobs in an economy to rise. d. the average number of jobs in an economy to fall.
Economic choice and competitive behavior are the result of
a. scarcity. b. poverty. c. public ownership of resources. d. private ownership of resources.