Critics of This International Institution Refer to It as an International

question 39

Multiple Choice

Critics of this international institution refer to it as an international loan shark,because it lends to countries in their hour of greatest need but also attaches unpopular conditions as a requirement for receiving a loan.

• A)World Bank
• B)World Trade Organization
• C)Bank for International Settlements
• D)International Monetary Fund

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Definitions:

Price Elasticity

A measure of how much the demand or supply of a product changes in response to a price change.

Increase Tax Revenue

Strategies or activities undertaken by a government to enhance the amount of money it collects from taxes.

Tax Incidence

Tax Incidence refers to the analysis of the effect of a particular tax on the distribution of economic welfare, showing which group – consumers or producers – ultimately bears the burden of the tax.

Inelastic Supply

Describes a situation where the quantity supplied of a good or service is relatively unresponsive to changes in its price.