Which of the following is not an example of microfinance?
A. A loan to a small restaurant owner to buy a refrigerator.
B. A loan to a woman to buy a sewing machine to make clothes to sell.
C. A loan to a farmer for a goat that will give milk that the farmer can sell.
D. A loan to a U.S.-owned electronics company to expand overseas.
Answer: D
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An economic model suggests that an additional year of education increases a student's future wages by 15 percent. Using this model, answer the following questions:
a) Gary completes 8 years of education, and John completes 9 years of education. If Gary earns $20 per hour, how much is John expected to earn? b) John completes 9 years of education, and Kevin completes 12 years of education. Given John's earnings [as calculated in a)], how much is Kevin expected to earn? c) Is there any limitation to such a model? Explain your answer.
Refer to Figure 22-2. Based on the per-worker production function above, if the economy raises capital per hour worked from $35,000 to $40,000, by how much will real GDP per hour worked increase?
A) $150 B) $1,850 C) $2,000 D) $5,000