Which of the following is true about foreign aid provided by the United States?
a. During the last four decades, the U.S. has provided less than $400 million in aid
b. Most U.S. aid has been coordinated by the Department of Defense
c. The U.S. Agency for International Development emphasizes short-range plans
d. The U.S. Agency for International Development concentrates primarily on health, education, and agriculture
e. Foreign aid is large part of the U.S. federal budget
D
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The rational expectations hypothesis implies that when macroeconomic policy changes
A) the economy will become highly unstable. B) the way expectations are formed will change. C) people will be slow to catch on to the change. D) people will make systematic mistakes.
If the required reserve ratio is .25, demand deposits are $400 million, and total reserves are $150 million, then excess reserves are
A) $25 million. B) $50 million. C) $75 million. D) $125 million.
If the ________ effect is greater than the ___________ effect, a tax cut will increase revenues.
A. price; quantity B. quantity; income C. income; price D. quantity; price
In the U.S. balance of payments, purchases of foreign assets by U.S. residents are tabulated as a:
a. unilateral transfer. b. capital outflow. c. current account outflow. d. capital inflow.