The goal of the World Bank is to
A) sell the government securities of member nations on the open market.
B) supervise exchange rate stability.
C) help finance economic development.
D) supervise the activities of the central banks of member nations.
C
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Depending on the shape of the marginal cost curve, a monopolist might produce an output level on the elastic or the inelastic part of demand.
Answer the following statement true (T) or false (F)
Refer to the table above. In autarky the relative price of X (in terms of Y) in A would be
A) 3/4. B) 4/3. C) 3/9. D) $3.
"More productive workers receive higher wages than less productive workers." This observation is a major flaw in which of the following arguments for protectionism?
a. The infant industry argument. b. The national security argument. c. The employment argument. d. The cheap foreign labor argument.
U.S. GDP and U.S. GNP are related as follows:
a. GNP = GDP + Value of exported goods - Value of imported goods. b. GNP = GDP - Value of exported goods + Value of imported goods. c. GNP = GDP + Income earned by foreigners in the U.S. - Income earned by U.S. citizens abroad. d. GNP = GDP - Income earned by foreigners in the U.S. + Income earned by U.S. citizens abroad.