According to the Noted Economist Jeffrey Sachs, the International Monetary

question 51

Multiple Choice

According to the noted economist Jeffrey Sachs, the International Monetary Fund should

• A) not be accountable to anyone as it is a powerful institution.
• B) bail out banks that have rash lending policies.
• C) have a "one-size-fits-all" approach to macroeconomic policy.
• D) keep its operations open to greater outside scrutiny.
• E) lend only to countries with safe credit ratings.

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Definitions:

Ceteris Paribus

A Latin phrase meaning "all other things being equal," used to isolate the effect of one variable in economic analysis.

Law Of Demand

An economic principle stating that as the price of a good increases, demand for that good decreases, and vice versa, all else being equal.

Prices Fall

A market condition where the cost of goods and services decreases over time.

Ceteris Paribus

A Latin phrase meaning "all other things being equal," used in economics to isolate the effect of one variable on another by holding all other relevant factors constant in an analytical context.