When the IMF provides loans to developing countries, it often requires these countries to adopt:
A. a contractionary fiscal policy and an expansionary monetary policy.
B. contractionary monetary and fiscal policies.
C. expansionary monetary and fiscal policies.
D. a contractionary monetary policy and an expansionary fiscal policy.
Answer: B
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Which of the following broad categories are resources divided into?
a. Natural resources, labor, capital, and entrepreneurial ability b. People, money, and machines c. Free, scarce, abundant, and unlimited d. Savings, spending, investment, and capital e. Human, technological, and government
A member of a cartel earns more profits by producing more than its quota and selling at a price higher than the cartel's price
Indicate whether the statement is true or false
Table 3-25 - The opportunity cost of 1 mixer for Miguel is.
a. 1/2 toaster
b. 1/2 hour of labor
c. 2 toasters
d. 8 hours of labor
Scarcity implies that
A) people should limit their wants, since shortages exist. B) firms should be more efficient when producing goods. C) people must make choices. D) nonrenewable resources should never be used.