Nigeria Pulled Out of the IMF Program in 2002 Because

question 11

Multiple Choice

Nigeria pulled out of the IMF program in 2002 because:

• A)the economic and political elite of Nigeria wanted an independent economy unregulated by the whims and fancies of the IMF.
• B)the developed countries of the world pressed for its ouster on charges of massive violation of human rights by the Nigerian military dictatorship.
• C)it failed to meet the economic reform requirements, specifically failing to meet spending and exchange rate targets.
• D)it refused to accord the MFN status to the rest of the members of the IMF as it did to South Africa which was a violation of IMF statutes.
• E)it insisted on additional loans from the IMF even though it was defaulting on the repayment of the earlier loans.

Understand the concept of marginal social benefit and marginal social cost in the context of public goods and common resources.

Identify the conditions under which the provision of public goods and common resources is socially optimal.

Analyze the role of government in providing public goods and managing common resources to maximize social welfare.

Recognize the challenges associated with private market provision of public goods and common resources.

---

Definitions:

Planning Purposes

Refers to the reason or objective behind creating a plan, often to achieve a specific goal or to meet certain requirements.

Customers

Individuals or entities that purchase goods or services from a business or organization.

Multicollinearity

A situation in statistical models where several predictor variables are highly correlated, which can undermine the statistical significance of an independent variable.

Predictor Variables

Independent variables in statistical models that are used to predict the value of a dependent variable.