Those who advocate a role for the World Bank in establishing systems of well-defined property and contract rights in developing nations would argue that
A) such changes would eliminate the need for short-term loans.
B) such changes would make these economies more productive.
C) such changes would eliminate the need for long-term capital funding.
D) asymmetric information is currently not a problem in these countries.
B
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Suppose that the price elasticity of demand for an ice cream cone is -1.9 . If the local ice cream shop owner wants to increase total revenue, what would you recommend he or she do?
What will be an ideal response?
A perfectly competitive firm’s short-run supply is infinite at the market price.
Answer the following statement true (T) or false (F)
In the "classical" region of the aggregate supply curve,
A. the economy is at the maximum output level, so only the composition of output can be changed, the quantity of output cannot be increased. B. the economy is on the production possibilities frontier. C. attempts to expand output will result in increases in both prices and output. D. the economy is at the maximum output level, so only the composition of output can be changed, the quantity of output cannot be increased AND the economy is on the production possibilities frontier.
Which statement is false?
A. If we restrict our imports, our exports will decline. B. Trade restrictions cause economic inefficiency. C. International finance is based on the gold standard. D. None of these statements are false.