The World Bank obtains the funds it lends by:
a. selling bonds on the international bond market.
b. selling bonds to countries it has loaned funds to.
c. collecting each country's annual membership fee or quota.
d. levying a small tax on every foreign exchange conversion worldwide.
e. depending on voluntary subsidies from member nations.
a
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According to Professor Baotai Wang who examined the crowding out phenomenon in Canada between 1961-2000, as discussed in the Case in Point, which of the following categories of government expenditures are most likely to lead to crowding out?
A) expenditures for health and education B) expenditures for infrastructure and capital C) expenditures for the protection of persons and property, including defense spending D) expenditures for government and social services
Because firms can free ride on the research and development of other firms
A) firms choose a level of research and development where the marginal cost of research is above the economy's marginal return of research. B) firms choose a level of research and development where the marginal cost of research is equal to the economy's marginal return of research. C) firms choose a level of research and development where the marginal cost of research is below the economy's marginal return of research. D) firms choose a level of research and development where the marginal cost of research is below the individual firm's marginal return of research.