The IMF comprises of 50 member countries including all developed countries, and a few countries of Asia and Latin America.
a. True
b. False
Indicate whether the statement is true or false
QUESTION 2Which of the following is a reason behind Wal-Mart's success?
a. Absence of unionization and encouragement of merit-based promotions.
b. Complete control over the market price.
c. Presence of regional managers in the field rather than at headquarters.
d. Centralized control and inspection over the functioning of store managers.
QUESTION 3In equilibrium under monopolistic competition:
a. marginal revenue exceeds average revenue.
b. marginal revenue exceeds marginal cost.
c. marginal revenue is equal to marginal cost.
d. marginal revenue is less than marginal cost.
QUESTION 4The World Bank was created to help finance economic development in poor countries.
a. True
b. False
Indicate whether the statement is true or false
QUESTION 5Wal-Mart's store managers have the authority to stock items and price them to satisfy localized demand. Which of the following properties of this retail store is illustrated here?
a. Relationship with employees
b. Regional relationships
c. Centralized decision making
d. Decentralized decision making
QUESTION 6As firms exit a monopolistically competitive market, profits of existing firms ____ and product diversity in the market ____.
a. decline; decreases
b. rise; decreases
c. rise; increases
d. decline; increases
QUESTION 7Under both the gold standard and the gold exchange standard countries bought and sold U.S. dollars to maintain a fixed exchange rate with the dollar.
a. True
b. False
Indicate whether the statement is true or false
QUESTION 8Temporary discounts offered to customers by competitive retailers usually reflect:
a. output rationing.
b. a rise in market demand.
c. price discrimination.
d. a fall in input prices.
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