As an agent of economic development, in what areas do NGOs have a comparative advantage, compared to governments or markets?
What will be an ideal response?
The new section on NGOs describes seven such areas of comparative advantage.
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If the price of a good rises and the consumer's budget remains the same, what happens to the consumer's consumption possibilities?
What will be an ideal response?
Unexpected inflation redistributes income:
a. away from workers with cost-of-living adjustments, benefiting employers. b. away from renters, benefiting landlords. c. away from poor people, benefiting the rich. d. away from people with fixed incomes, benefiting people with fixed costs. e. away from debtors, benefiting creditors.
When the interest rate on newly issued bonds increases, the price of existing bonds:
A. decreases. B. may either increase or decrease. C. increases. D. increases only if the coupon rate is below the new rate.
The famous economist who coined the metaphor "the invisible hand" is:
A. Mickey Kantor. B. Ben Bernanke. C. Milton Friedman. D. Adam Smith.