Fungibility means that
a. donors allow recipients to use aid money for any purpose they want
b. even if aid money is specified for a project, this frees up a similar amount for other uses
c. aid money is given for programs that allow recipients to choose how to use it, within specific limits
d. aid money is given in the local currency so its source is unidentifiable
e. all of the above
B
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Sharmila has a budget line for DVDs and books. DVDs are on the vertical axis and books on the horizontal. Her budget line becomes steeper as
A) the price of a DVD falls. B) the price of a DVD rises. C) her income decreases. D) her income increases.
Adam Smith's example of the pin factory demonstrates that economies of scale result from specialization
a. True b. False Indicate whether the statement is true or false
Behavioral economics uses concepts and theories to explain the systematic patterns in how we behave that lead to consistently erroneous decisions. These patterns are called:
A. cognitive biases in the field of psychology. B. cognitive dissonance in the field of psychology. C. receptive biases in the field of anthropology. D. disruptive biases in the field of anthropology.
Hyperinflation is:
A. an extremely low rate of inflation. B. frequently experienced in the United States. C. an extremely high rate of inflation. D. very erratic inflation.