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5. Which of the following statements is false of foreign aid? A) Foreign aid is commonly provided to sub-Saharan Africa. B) Foreign aid may not efficient in cradicating poverty because of poverty trap. C) In some instances, foreign aid can be beneficial for dictators. D) The concept of foreign aid was introduced in the twenty-first century. 6. Which of the following is likely to shift the demand curve for carpenters rightward, assuming all else equal? A) A fall in the price of wood B) A rise in the price of wood C) A rise in the prices of the tools used by carpenters D) A fall in the wage rate of carpenters Scenario: Truck drivers across the country are on strike in an effort to negotiate higher wages. Currently the labor market in this industry clears at WM and Q3, as shown in the figure below. Labor supply Wage Labor demand Quantity of labor 7. Refer to the scenario above. Assume that the negotiations were successful and a minimum wage has been implemented. How is the equilibrium in the driver market likely going to change? A) The new wage rate will be above WM, and the new quantity of drivers supplied will be below Q3. B) The new wage rate will be above WM, and the new quantity of labor will be above 03. C) The new wage rate will be above WM, and the new quantity of labor will be below Q3. D) The new wage rate will be above WM, and the new quantity of drivers demanded will be above Q3. in certain sectors of the 8. Excessive dependence on cheap foreign imports can cause an) economy. A) left shift in the domestic labor supply curve B) right shift in the domestic labor demand curve C) rise in the wage rate D) fall in the wage rate

Answer 1

ANSWER 5 : D. Is false. The concept of foreign aid was introduced in the 21st century.

This is false as we find clear evidences in history of foreign aids given to countries, some examples are :

18th Century: Beginning as a means to hold leverage and ensure loyalty, Frederick the Great of Prussia began providing assistance to less affluent countries. Consequently, this allowed his own people to feel confident that they had the military backing of these allies.

19th and Early 20th Centuries: The European superpowers gave large amounts of money in aid to their colonies as a strategy to improve infrastructure and increase economic efficiency.