According to Joseph Stiglitz, the former chief economist of the World Bank, what is the choice poor countries currently face?
A. whether they should fund gas subsidies or health care subsidies
B. whether they should pay off their debts or invest in an army
C. whether they should pay off their debts or tackle corruption
D. whether they should pay off their debts or fund health care and education
Answer: D. whether they should pay off their debts or fund health care and education
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Kyle and Stan are playing Odds or Evens, where Kyle is designated as the "odd" player and Stan is designated as the "even" player. They decide to play the game 10 times. Stan's ideal mixture is to
A) "shoot 1" every time since Kyle is the "odd" player. B) "shoot 2" every time since he is the "even" player. C) "shoot 1" 50% of the time and "shoot 2" 50% of the time. D) Stan's ideal mixture depends on Kyle's ideal mixture.
Since the year _____, all depository institutions are subject to the Fed's legal reserve requirements.
Fill in the blank(s) with the appropriate word(s).
When government spending exceeds tax revenues during a specific time period, this is known as a
A) government budget deficit. B) government budget surplus. C) balanced budget. D) public debt.
Which of the following is a positive, as opposed to a normative, statement?
a. The US Department of Justice should allow a merger between AT&T and T-Mobile because it would have little effect on consumers. b. Antitrust laws should be used to prevent further concentration in the wireless telephone service market. c. The US Department of Justice sued AT&T to block its merger with T-Mobile. d. The wireless telephone service market is too highly concentrated.