Voting in the World Bank is based on
a. the UN Millennium Development Goals.
b. the member's financial contributions.
c. the concept of one state/one vote.
d. the country's per capita GDP.
a. the UN Millennium Development Goals.
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Explain how it is possible for a downward-sloping demand curve to have a constant slope but still have a variation of elasticity of demand along it
What will be an ideal response?
In the IS-LM model, if interest rates fall while output falls the
a. money supply must have fallen. b. price level must have fallen. c. money supply must have risen. d. level of government spending must have risen. e. none of the above.
Dale just won tickets to see a NASCAR race. His coworker offers to pay him $200 for them, but Dale decides to use them, even though he would not pay $200 for them himself. Dale's willingness to consume $200 worth of tickets that he doesn't value at $200 is attributed to:
A. the explicit cost of ownership. B. the high fungibility of money. C. his refusal to ignore the sunk cost of the tickets. D. None of these is correct.
The Coase Theorem works because the negotiation
A. makes neither party better off. B. makes both parties better off. C. makes the party with the property rights better off. D. makes both parties equally better off.