A multinational organization that aims to promote world economic growth through more financial stability is the
A) World Bank. B) International Monetary Fund.
C) Federal Reserve System. D) International World Fund.
B
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A binding price floor will reduce a firm's total revenue
a. always. b. when demand is elastic. c. when demand is inelastic. d. never.
Under both perfect competition and monopoly, a firm:
A. is a price taker. B. is a price maker. C. will shut down in the short-run if price falls short of average total cost. D. sets marginal cost equal to marginal revenue.
When there is a change in the quantity demanded it means that:
A. the hours the customer can buy products each day have increased. B. the number of products in inventory have increased. C. the quantity a consumer is willing to buy changes when the price changes. D. the selling price of the products has not changed.
In the figure above, when the price of a CD is $8.00, total producer surplus from all the CDs will be
A) zero. B) greater than at $10.00 per CD. C) $20 million. D) $10 million.