The main criticism Joseph Stiglitz levels at the IMF is that
A. it provides too many loans that are not repaid.
B. it no longer promotes economic growth, but rather contraction.
C. it does not provide enough loans.
D. it does not sufficiently promote the market system.
B. it no longer promotes economic growth, but rather contraction.
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We allocate resources efficiently when
A) marginal benefit is equal to marginal cost. B) marginal benefit is greater than marginal cost by any amount. C) marginal cost is greater than marginal benefit. D) total benefit is greater than total cost. E) marginal benefit is greater than marginal cost by as much as possible.
In the circular flow diagram, aggregate expenditure includes the sum of
A) saving and investment. B) consumption and investment. C) consumption, investment, and saving. D) income and saving.
The potential for redistribution cannot be exaggerated
Indicate whether the statement is true or false
Economic analysis suggest that in a competitive market economy, when an entrepreneur has made a large profit,
a. consumer benefits must have been reduced by at least the amount of the profit. b. other producers have lost profits of the same size. c. economic progress for society as a whole has normally been enhanced. d. luck or chance, rather than productive activity, has nearly always been the largest factor.