________ is the ability of an individual, a firm, or a country to produce a good or service at a lower opportunity cost than competitors

According to the quantity theory of money, if the money supply grows at 25% and the inflation rate is 20%, the growth in real GDP is

A) 0.8%. B) 1.25%. C) 5%. D) 45%.

Why has the IMF come in for widespread criticism for its handling of the Asian financial crisis?

A) It refused to make loans to any of the countries whose currencies were under speculative attack. B) Its policies did not sufficiently punish speculators with losses, giving rise to moral hazard. C) Its policies led to unsustainably low interest rates in a number of Asian countries. D) Its policies failed to lead to sufficient hardship for citizens in a number of Asian countries, giving rise to moral hazard.