Both the World Bank and the IMF typically
A) charge lower than average loan rates to ensure repayment.
B) impose stringent preconditions that the borrowers must meet.
C) charge higher than average loan rates.
D) make loans for less than 5 years only.
B
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The marketing people at Ben and Jerry's Ice Cream Company believe that if they lower the price of their Cherry Garcia flavor ice cream by 25 percent, the quantity demanded will increase by 5 percent. If they are correct in their belief, then
A) the demand for Cherry Garcia is price elastic. B) their total revenue from Cherry Garcia will increase if they lower the price. C) the demand for Cherry Garcia is income elastic. D) their total revenue from Cherry Garcia will decrease if they lower the price.
An important critique of real business cycle theory is the belief that cyclical movements in total factor productivity
A) rarely occur. B) may, in part, be an artifact of measurement error. C) lead to imperceptible changes in labor demand. D) are too small to account for the size of fluctuations in real GDP.