With regard to the IMF, "mission creep" means that
A) the IMF was making loans to nonmember countries.
B) the IMF had expanded its lending to an inappropriate level.
C) the IMF had taken on extended responsibilities that it should be authorized to perform.
D) the IMF had taken on responsibilities for which it was not suited.
D
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In a closed economy, if Y and T remained the same, but G rose and C fell but by less than the rise in G, what would happen to private and national saving?
a. private and national saving would rise b. private and national saving would fall c. private saving would rise and national saving would fall d. private saving would fall and national saving would rise
Country A and country B both produce shirts and shorts. Country B has an absolute advantage producing both shirts and shorts. Is there any condition under which the two countries could gain from trade?
Property rights allowing individuals to own goods, services, and factors of production are most important in:
a. capitalistic economies. b. socialistic economies. c. planned economies. d. command economies.
One World View article titled "Global Depression" states, "The Great Depression wasn't confined to the U.S. economy." This implies that many other countries
A. Were producing inside their production possibilities curves. B. Experienced an increase in real GDP. C. Were producing on their production possibilities curves. D. None of the choices are correct.