Making "soft loans"—loans which may not be self-liquidating—to the very poorest of the developing countries on relatively liberal terms is the primary function of the:
A. United Nations
B. International Finance Corporation
C. New Global Compact
D. International Development Association
D. International Development Association
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Trade theorists have proven that the gains from international trade
A) must raise the economic welfare of every country engaged in trade. B) must raise the economic welfare of everyone in every country engaged in trade. C) must harm owners of "specific" factors of production. D) will always help "winners" by an amount exceeding the losses of "losers." E) usually outweigh the benefits of protectionist policies.
The standard measure of the money stock, M1, refers to
a. checking account balances, travelers' checks, and cash in the hands of the public b. cash in the hands of the public, demand deposits, and small time deposits c. cash in the hands of the public, savings-type account balances, and travelers' checks d. savings-type account balances, small time deposits, and checking account deposits e. the sum of the cash in the hands of the public
The law of increasing costs causes the production possibilities curve to be bowed outward from the origin
Indicate whether the statement is true or false
The ________ automatically distributes scarce goods.
A. laissez-faire economy B. command economy C. barter system D. price system