According to William Easterly, a former World Bank Economist, the World Bank's role in development is to:
A. increase the cost of education in a country.
B. hold governments responsible for creating the proper economic environment
C. help governments increase inflation rates in a country.
D. allow countries to tax their exports.
Answer: B
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Marginal cost is the increase in total ________ that results from a one-unit increase in ________
A) fixed cost; the fixed input B) cost; output C) variable cost; the variable input D) fixed cost; output
If two goods are complementary, a(n)
a. decrease in the price of one good will cause a decrease in the demand for the other b. decrease in the price of one good will cause an increase in the demand for the other c. increase in the price of one good will cause an increase in the supply of the other d. increase in the price of one good will cause a decrease in the supply of the other e. increase in the price of one good will cause an increase in the demand for the other
If planned aggregate expenditure (PAE ) in an economy equals 3,000 + 0.75Y and potential output (Y*) equals 12,000, then this economy has:
A. no output gap. B. no autonomous expenditure. C. an expansionary gap. D. a recessionary gap.
A catfish farmer will shut down production when
A. He is losing money. B. The best he can do is break even. C. Price falls below AVC. D. Total revenue falls below total costs.