What is the World Bank? Explain its primary purpose.
What will be an ideal response?
The World Bank is supported by about 185 member nations that contribute to its operation. The bank also obtains funds by selling bonds. The primary goal of the bank is to help DVC achieve economic growth and development. This goal is achieved by loaning funds to large-scale and basic development projects in DVC such as for dams or health programs, for which private funding is not available or for which public funding is not feasible for a poor nation. The bank also provides advice and technical assistance for economic development in DVC.
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In every age group, average income in the United States increases with education
a. True b. False
Most economists reject the theory of rational expectations because
a. expectations adjust very quickly. b. workers receive wage increases in advance of inflation. c. the short-run aggregate supply curve is vertical. d. labor contracts tend to embody past inflation rates.