After the financial crisis in the 1990s many economists criticized the IMF and the World Bank. Some suggestions for reform are to
A) eliminate both the institutions.
B) increase private-sector lending by governments providing tax breaks to lenders.
C) create a board of directors made up of finance ministers for the IMF.
D) all of the above
D
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Governments contribute to increased average labor productivity in each of the following ways except by:
A. allowing the free and open exchange of ideas. B. maintaining political stability. C. imposing taxes on wages. D. establishing well-defined property rights.
The freedom of entry and exit in monopolistic competition means that firms
A) enter the market when economic losses are being suffered. B) exit the market when economic profits are being earned. C) enter the market when normal profits are being earned. D) can enter a market to compete for economic profits and leave when economic losses are being incurred. E) find it easy to permanently earn an economic profit.
Of the following, who gains with a quota?
A) domestic buyers of the good or service B) the importer of the good or service C) the foreign exporter of the good or service D) the government of the importing nation E) the government of the exporting nation
Assume that gross national product amounts to $4300.5 billion, depreciation is $550.1 billion, and indirect taxes are $399.3 billion. Then, net national product amounts to
a. $3351.1 billion. b. $4549.8 billion. c. $3851.2 billion. d. $3750.4 billion.