For China
A) there was a long period of success with the economic results of communism so it was hard to change policies.
B) reform of its economic system was rapid, with a quick dismantling of most of the controls exercised by the state and party over the economic system, but not the political system.
C) economic reforms were intended to create more wealth to distribute, not do undo the communist party.
D) there are no longer state owned enterprises.
C
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An argument in favor of foreign direct investment is that it tends to
(a) reduce inequality. (b) promote rural development. (c) increase access to modern technology. (d) decrease local ownership. (e) none of the above.
Which of the following can be categorized as a commodity money standard?
a. The pegged exchange rate standard b. The free float standard c. The managed float standard d. The reserve currency standard e. The gold standard
Picture a linear downward-sloping demand curve. If the price continues to fall, price elasticity will
a. decrease b. increase c. remain unchanged d. approach infinity e. increase or decrease, depending on the character of the good
In macroeconomics, the long run refers to:
A. two years. B. one year. C. ten years. D. None of these is true.