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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In a perfectly competitive industry, the demand for a single firm's product is perfectly elastic
A) because this firm's output is a perfect substitute for any other firm's output. B) because this firm is a price maker. C) only in the long run. D) because there are many buyers in this market.
What type of policies did Adam Smith attack in his book, An Inquiry into the Nature and Causes of the Wealth of Nations?
What will be an ideal response?
The market demand curve for any good is
a. independent of individuals' demand curves for the good. b. the vertical summation of individuals' demand curves. c. the horizontal summation of individuals' demand curves. d. derived from the firm's marginal cost of production.
As a result of international trade,
a. the gain to producers in the importing country exceeds the loss to consumers in the importing country b. the loss to producers in the importing country is less than the gain to consumers in the importing country caused by a decrease in price c. the loss to producers in the importing country exceeds the gain to consumers in the importing country caused by an increase in price d. the loss to producers in the importing country is equal to the gain to consumers in the importing country because price increases and equilibrium quantity decreases e. the loss to producers in the importing country is equal to the gain to consumers in the importing country because price decreases and equilibrium quantity increases