Critics of debt relief make all of the following arguments EXCEPT
A) it would be wasted money since the conditions that caused the debt would be likely to persist.
B) countries with large foreign debts are poorly administered.
C) debt relief can quickly fuel a new round of borrowing that simply restores debt to prior levels.
D) debt relief will encourage other nations to borrow excessively with the hope that their debts may be forgiven in the future.
E) the cost of debt relief to the most severely indebted countries is too large for the high income countries to afford.
E
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Using the values for the marginal benefit and the marginal cost of a bushel of apples given in the table above, what is the allocatively efficient quantity of apples? Suppose 10 million bushels of apples are produced
Should the quantity be increased or decreased? What if 20 million bushels are produced; should the quantity be increased or decreased?
If product price decreases, then:
a. MP will increase. b. MFC will increase. c. MRP will increase. d. MRP will decrease.
Susan Greenberg, who works in a typewriter factory, becomes unemployed because people start buying personal computers instead of typewriters. Susan can best be described as:
a. frictionally unemployed. b. structurally unemployed. c. cyclically unemployed. d. not part of the labor force. e. a discouraged worker.
Which of the follow is NOT an example of a market?
A. Retail trade of chocolate ice cream in Boston. B. The buying and selling of homes in Kansas City. C. The farmer's market in Madison, Wisconsin. D. The buying and selling of used cars.