Fungibility means that
a. donors allow recipients to use aid money for any purpose they want
b. even if aid money is specified for a project, this frees up a similar amount for other uses
c. aid money is given for programs that allow recipients to choose how to use it, within specific limits
d. aid money is given in the local currency so its source is unidentifiable
e. all of the above
B
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When comparing public and private schools, the voluntary choice of going to a private school _____
a. is a Pareto optimal move b. is a Pareto superior move c. is neither Pareto optimal nor Pareto superior d. cannot be evaluated according to the Pareto criteria
Money is
a. any asset that is convertible into cash. b. any asset with intrinsic value such as gold or silver. c. any asset widely accepted as a means of payment. d. anything that facilitates exchange. e. cash only.