Which of the following organizations works with developing countries to secure low-interest loans that foster economic growth?
A. Group of Five
B. World Bank
C. Group of Seven
D. World Trade Organization
Answer: B
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According to economic theory, a politician
A) expands activities whose marginal benefit exceeds marginal cost. B) contracts activities whose marginal cost exceeds marginal benefit. C) does not necessarily act on narrow or selfish interests. D) does all of the above. E) does none of the above.
The real exchange rate is the
A) relative price of U.S. produced output relative to foreign-produced output. B) price of foreign goods relative to the price of domestic goods. C) trade-weighted index. D) current account balance.
XYZ Co operates in a competitive market. Its marginal product of labor is 1/L, and it takes the wage and price as given. Derive the firm's short-run demand for labor as a function of w and p. How much labor will the firm hire if w = 2 and p = 10?
What will be an ideal response?
The inflation rate is
A. the percentage increase in the price index from one year to the next as well as the price index in one year minus the price index in the previous year. B. the price index in one year minus the price index in the previous year. C. the percentage increase in the price index from one year to the next. D. the percentage increase in the price index from the base year.