Which of the following makes long-term low-interest loans to LDCs?
a. International Monetary Fund (IMF)
b. Agency for International Development (AID)
c. World Bank
d. New International Economic Order (NIEO)
c
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In comparing long-run and short-run costs, which of the following statements is true at each level of output?
a. long-run total cost is always less than short-run total costs b. long-run total cost cannot exceed short-run total cost c. long-run and short-run total costs are equal when fixed costs are large d. firms usually make decisions about production levels based on long-run costs rather than short-run costs e. short-run total cost cannot exceed long-run total cost
The "investment" component of aggregate demand will include all of the following except
a. expenditures of business firms on new plants. b. expenditures of business firms on new equipment. c. resales of existing physical assets. d. household spending on new homes.
The International Monetary Fund was established to manage the Bretton Woods System
a. True b. False Indicate whether the statement is true or false
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The economy is currently at Point A. The opportunity cost of moving from Point A to Point B is the
A. 30 LCD televisions that must be forgone to produce 60 additional OLED televisions. B. 90 LCD televisions that must be forgone to produce 20 additional OLED televisions. C. 30 LCD televisions that must be forgone to produce 20 additional OLED televisions. D. 120 LCD televisions that must be forgone to produce 40 additional OLED televisions.