All of the following issues were discussed as options for reforming the international financial architecture EXCEPT
A) how high an interest rate the lender of last resort should charge when it makes loans.
B) the length of the payback period.
C) the size of the loans.
D) the moral hazard problem associated with a lender of last resort.
E) if the lender of last resort (i.e., the IMF) should consult and collaborate with other international institutions such as the United Nations and the WTO.
E
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As a household's disposable income increases, its autonomous expenditures ________ and its induced expenditures ________
A) increase; do not change B) decrease; do not change C) increase; increase by a smaller amount than the increase in income D) do not change; increase by an amount equal to the increase in income E) do not change; increase by a smaller amount than the increase in income
The price elasticity of demand for Stork ice cream is -4. Suppose you're told that following a price increase, quantity demanded fell by 10 percent. What was the percentage change in price that brought about this change in quantity demanded?
A) 40 percent B) 25 percent C) 2.5 percent D) 0.4 percent