Which of the following is not characteristic of successful microfinance organizations:
a. close, continuous contact between borrower and lender
b. teams of borrowers who put pressure on each other to repay on time
c. relatively small loans for short-term projects
d. numerous levels of approval required to ensure that loans are sound
e. all of the above characterize successful microfinance organizations
D
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Indifference curves tend to be convex because ________
A) they are bowed inwards toward the origin B) consumers dislike large fluctuations in consumption from one period to the next C) of the gap between real and nominal interest rates D) the marginal rate of substitution exceeds the price effect
Holding other factors constant, technological progress ________ the real wage and ________ employment.
A. increases; increases B. decreases; increases C. increases; does not change D. increases; decreases
Suppose that the stock of money is $250 billion and nominal GDP is $2,000 billion. The velocity of money is
A. 0.125. B. 6. C. 8. D. 2,250.
Under the Bretton Woods system, currencies were fixed in terms of the U.S. dollar.
Answer the following statement true (T) or false (F)