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.Management Sciences
Category: Stabilization, Adjustment, Reform and Privatization
Before the 1978 reforms China had a(n) ?
A. agricultural bank only
B. urban credit cooperatives
C. mono bank system
D. housing savings banks
Which of the following may constitute the International Monetary Fund’s conditionality for borrowing?
I. government reducing budget deficts
II. limiting credit creation and liberalizing trade
III. achieving market-clearing price
IV. restraining public sector employment and wage rates
A. I and II only
B. III and IV only
C. I, II , III and IV
D. None of these
When the world Bank or IMF requires improved external balance in the short run the agency may condition its loan on expenditure switching that is ?
A. switching spending from domestic to foreign sources
B. devaluing local currencies
C. increase trade restrictions by imposing quota
D. increase government spending
Countries facing a persistent external deficit can ?
I. borrow overseas
II. increase trade restrictions and exchange controls
III. undertake expansionary monetary and fiscal policies
IV. Undertake expenditure-reducing policies
A. I and II only
B. III and IV only
C. I, II and III only
D. I, II and IV only
Structural economists from the United Nations Economic Commission for Latin America (ECLA) emphasized ?
A. contractionary monetary and fiscal policies
B. currency devaluation
C. long-run institutional and structural economic change
D. short term-adjustment with a human face
A development bank based in London, which loans funds to governments of Eastern Europe and the former Soviet Union is the ?
A. Transitional Monetary Fund
B. World Bank
C. European Bank for Reconstruction and Development
D. OECD
S = Savings, I = domestic investment, X = exports of goods and services, and M = imports of goods and services Which of the following is true ?
A. S – I = X = M
B. S + I = X + M
C. S = I – (X+M)
D. S-I = X/M
A critic of “Shock therapy” to transition economies. Vladamir Popov, contends that shock therapists put a heavy emphasis on ?
A. introducing the reform package at once to ensure that it became too late and costly to reverse the reforms
B. agricultural reform rather than industrial reforms to overcome food insecurity
C. the creation of a small-scale private sector ans small independent banks
D. attempts to gradually remake institutions
Internal balance refers to ?
A. full employment and price stability
B. exports minus imports
C. monetary policy offsetting fiscal policy
D. exports equal to imports
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