One of the most important and most visible roles of the IMF is to
A) hold regular negotiations over tariff reductions.
B) investigate countries that are charged with being unfair traders.
C) provide loans to countries that need capital to develop their economies.
D) intercede by invitation when countries cannot pay their international debts.
E) serve as a forum for negotiating free trade agreements between groups of nations.
D
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Fiscal policy has a greater impact in a closed economy than it does in an open economy
Indicate whether the statement is true or false
An increase in the real interest rate is an example of a
A) pure substitution effect. B) substitution effect and a positive income effect. C) substitution effect and a negative income effect. D) substitution effect and an income effect whose sign depends on whether the consumer is initially a borrower or a lender.
A firm in a monopolistically competitive market is similar to a monopolist in the sense that it
a. must overcome significant barriers to entry b. faces a downward-sloping demand curve c. produces a large share of the market output d. is dependent on the actions of other firms e. produces the same product as its competitors do
Say's Law states that:
A. Increased prices lead to increased supply. B. Opportunity costs will always increase. C. Supply creates its own demand. D. High prices cause unemployment.