Which of the following is FALSE about the Highly Indebted Poor Countries initiative?
A) Most of the countries included are in sub-Saharan Africa.
B) Countries qualify for debt relief partly based on their level of poverty.
C) Countries do not have to have established a past track record of economic reform in order to qualify as long as they make future commitments.
D) External debt levels must be high relative to exports in order to qualify.
C
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Attempts to fine-tune the economy through shifts in fiscal and monetary policy
A) cannot alter the level of unemployment but may change the price level. B) may not do any good but certainly do no harm. C) produce greater stability, but only at the cost of an ever-increasing national debt. D) will increase rather than reduce instability if the policy makers lack adequate information.
A key difficulty facing insurance companies is that people know more about their health than do insurance companies, and that those people who are seriously ill are the most likely to want to obtain health insurance
What is this phenomenon called? A) asymmetric information B) moral hazard C) economic irrationality D) adverse selection