How did the original focus of the IMF differ from that of the World Bank?
A. The IMF dealt in North and South America only, and the World Bank dealt with the rest of the world.
B. The IMF gave grants to developing countries and the World Bank made loans.
C. The IMF assisted wealthy nations and the World Bank assisted developing nations.
D. The IMF provided short-term loans and the World Bank provided long-term loans.
Answer: D
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Economists consider profit to be
A) a cost of producing goods and services. B) something that should be eliminated by antitrust laws. C) the same as a salary. D) a reward for incurring losses.
Suppose the economy is at point 1 in Figure 13.1. With output below potential output, it might not be possible to create any expectation of an increase in inflation
How, then, might output be brought back to potential? What would this look like on the graph?
Which of the following policies is not aimed at stimulating technological progress?
a. subsidies to public universities. b. tax breaks on stock gains. c. tax breaks on research and development. d. the granting of patents.
An increase in a country's saving rate will tend to cause which of the following in the long run?
A) a reduction in per capita real GDP B) an increase in economic growth C) an increase in the unemployment rate D) an increase in the rate of inflation