Which of the following is an example of a bilateral aid?
a. A U.S. commercial bank loan to a Mexican investor
b. The establishment of a Brazilian subsidiary by a German firm
c. U.S. humanitarian aid to Somalia
d. A trade credit extended to Morocco for the purchase of Iranian oil
e. A World Bank loan to Kenya
c
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The traditional Keynesian approach to fiscal policy assumes that
A) an equal income distribution ensures a stable economy. B) consumers spend more when their incomes are higher. C) cutting taxes is a more effective way to stimulate the economy than is increasing government spending. D) the effect of unemployment compensation is to destabilize the economy.
The Board of Governors has
A) seven members appointed to 14-year terms. B) 14 members appointed to 10-year terms. C) four members appointed to seven-year terms. D) 14 members appointed to four-year terms. E) seven members appointed for life.