The World Bank primarily engages in
A) short-term lending aimed at helping developing nations repay debt accumulated in past years.
B) short-term lending aimed at helping developing nations repay loans from the International Monetary Fund.
C) long-term lending aimed at helping developing nations' governments and businesses make investments that will contribute to economic growth.
D) long-term lending aimed at helping developing nations' governments and central banks keep exchange rates from varying.
C
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The branch of economics which studies how households and firms make choices, interact in markets, and how government attempts to influence their choices is called
A) microeconomics. B) positive economics. C) normative economics. D) macroeconomics.
The term "path dependence" refers to
a. inefficient outcomes that result from early technology choices that are not optimal in the long run. b. the tendency for competitive markets to become monopolistic in the long run. c. inefficient outcomes that result from negative externalities. d. the natural growth of monopoly when economies of scale exist in a market.