The IMF policies that accompany most IMF loans are typically:
A. contractionary in the long run.
B. procyclical in the long run.
C. contractionary in the short run.
D. expansionary in the short run.
Answer: C
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The larger the public's currency drain from the banking system, the
A) smaller is the monetary base. B) smaller is the money multiplier. C) larger is the monetary base. D) larger is the money multiplier.
Which of the following was not true of the First and Second Banks of the United States?
a. They had branches throughout the country. b. They issued paper money. c. They made loans to private individuals. d. They set the bimetallic ratio.
Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. higher; potential D. lower; higher
The law of supply holds for perfectly competitive firms assuming that each firm tries to
A) maximize profits. B) minimize total costs C) maximize revenue D) minimize variable costs