The World Bank specializes in making loans to promote
A) so-called stand-by arrangements and credits.
B) short-term assistance when a nation experiences a financial crisis.
C) financial stability.
D) long-term development and growth.
D
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Taxes that change with the level of real GDP and income are called
A) flexible taxes. B) voluntary taxes. C) induced taxes. D) forced taxes. E) GDP taxes.
Suppose the price of a scooter is $200 and Cora Lee is willing to pay $250. Cora Lee's
A) consumer surplus from that scooter is $200. B) consumer surplus from that scooter is $50. C) marginal benefit from that scooter is $100. D) consumer surplus from that scooter is $150. E) consumer surplus from that scooter is $250.
Economists view pollution as an economic problem that arises because:
a. private enterprise always minimizes the amount of pollution produced. b. profitable firms rarely pollute. c. as the economy grows, the level of pollution declines. d. firms that pollute do not pay the full social cost of producing their output.
When quantity supplied equals quantity demanded, there is:
a. disequilibrium b. excess quantity supplied. c. a market-clearing price (equilibrium price). d. excess quantity demanded. e. a shortage.