What is the mission of the International Monetary Fund (IMF)?
What will be an ideal response?
The IMF was established after World War II to help maintain international financial stability. When nations join the IMF, they all must deposit funds called quota subscriptions, measured in an accounting unit called special drawing rights. Quotas are based on each nation's national income. The IMF can lend these funds in an effort to solve financial problems arising from fluctuations in trade, investor loss of confidence in a nation's financial system, or spillover effects from financial problems originating elsewhere.
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Laws and courts tend to make markets work ________ and make society ________
A) less effectively; poorer B) less effectively; richer C) more effectively; poorer D) more effectively; richer
In which of the following situations would the minimum efficient scale of operation provide little or no guidance regarding how many firms should serve the market to minimize production costs?
A) When the LRAC curve slopes downward over the relevant range of output. B) When the LRAC curve hits its minimum point at a relatively low level of output and then increases and the demand for output is quite large. C) When the LRAC curve hits its minimum point at a relatively low level of output but then remains constant as the scale of operation is increased and the demand for output is quite large. D) When the LRAC curve initially increases and then decreases beyond some point.