The "Four Tigers" of East Asia are the newly industrialized countries of Taiwan, South Korea, Hong Kong, and:
A. Japan.
B. Singapore.
C. the Philippines.
D. Vietnam.
Answer: B
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Since it is a centrally planned economy, China does not face opportunity costs when economic decisions are made.
Answer the following statement true (T) or false (F)
Which of the following theories predicts that current consumption increases when a person expects an increase in future income?
A) the life-cycle theory of consumption B) the Keynesian theory of consumption C) the permanent income hypothesis D) all of the above
A Classical aggregate supply curve is
A) vertical. B) upward-sloping. C) horizontal. D) downward-sloping.
In the wake of the failure of __________ in 1984, the FDIC announced the "too big to fail" policy
A) Mariners' Trust of Detroit B) Manufacturers Hanover Bank C) Silverado Savings-and-Loan D) Continental Illinois Bank