Which of the following statements is TRUE?
A) The voting power of a nation in the International Monetary Fund is determined by its quota subscription.
B) The voting procedure in the International Fund is determined by the World Bank.
C) The voting power of a nation in the International Monetary Fund is called special drawing rights.
D) All nations that belong to the International Monetary Fund have equal voting power.
A
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The economic problem is essentially one of deciding how to make the best use of
A. limited resources to satisfy limited wants. B. unlimited resources to satisfy limited wants. C. limited resources to satisfy unlimited wants. D. unlimited resources to satisfy unlimited wants.
Melissa has an income of $240 a month to spend on tennis lessons and concert tickets. The price of a tennis lesson is $20, and the price of a concert ticket is $40. The slope of Melissa's budget line, with tennis lessons on the horizontal axis, is
A) -2. B) -0.5. C) -6. D) -12.
"As output of one good expands, the opportunity cost of producing additional units of this good increases," is the law of _____________.
Fill in the blank(s) with the appropriate word(s).
Expansionary fiscal policy includes
A) increasing taxes and increasing government purchases. B) lowering interest rates, decreasing taxes and increasing transfer payments. C) decreasing taxes and increasing government expenditures. D) lowering the interest rates, decreasing taxes and decreasing government spending.