The purpose of the IMF is to:
A. provide developing countries with short-term loans and technical assistance.
B. determine monetary and fiscal policy in developing countries.
C. determine exchange rates for developing countries.
D. buy and sell the currencies of developing countries in order to stabilize their value.
Answer: A
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If the interest rate on Japanese yen assets falls while interest rates in the United States remain constant, the
A) quantity of dollars demanded will increase. B) quantity of dollars demanded will decrease. C) demand for dollars will increase. D) demand for dollars will decrease.
All of the following shift the LAS curve EXCEPT
A) a change in the capital stock. B) an increase in the money wage rate. C) an increase in the stock of human capital. D) technological progress.
Answer the question on the basis of the following information: Suppose a firm hires both labor (L) and capital (C) under purely competitive conditions. The price of labor is P L and that of capital is P C . The marginal product of labor is MP L and that
of capital is MP C . The firm sells its product competitively at a price of P X . Refer to the given information. In competitive labor markets, the marginal cost of an additional unit of labor: A. is equal to P L × MP L . B. is equal to MP L /P L . C. is equal to P L . D. cannot be determined from the information given.
When income is $15,000, the amount of income taxes owed is $1,500; when income increases to $20,000, the amount owed increases to $3,000. The average income tax rate when a person earns $15,000 is
A) 75 percent. B) 10 percent. C) 13.3 percent. D) 20 percent.