Which International Institution Was Set Up to Make Long-Term Loans

question 121

Multiple Choice

Which international institution was set up to make long-term loans to capital-hungry countries?

• A)World Bank
• B)World Finance Institute
• C)International Monetary Fund
• D)International Development Organization
• E)Bretton Woods Institute

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Definitions:

Constant-Cost Industry

An industry in which the input prices and production costs remain constant as the industry output changes.

Long-Run Equilibrium

A state in which all firms in an industry are producing at their minimum long-run average cost and are earning normal profits.

Units of Output

The measurable amount of goods or services produced by a company or industry.

Internal Economies of Scale

cost advantages that a firm obtains due to expansion, leading to a decrease in the average cost per unit.