The "underground economy" is also referred to as
A) the informal sector.
B) the formal sector.
C) the halfway economy.
D) the net domestic product economy.
Answer: A
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Which of the following is FALSE about the transition from communism to capitalism in Russia and China?
A) China chose a dual track strategy. B) China's transition strategy was considered gradualist. C) Russia chose a rapid transition strategy. D) Russia's transition was aided by the large number of workers it had in heavy industry. E) China's transition was aided by the large number of workers it had in rural agriculture.
The optimum tariff is most likely to apply to
A) a small tariff imposed by a small country. B) a small tariff imposed by a large country. C) a large tariff imposed by a small country. D) a large tariff imposed by a large country. E) an ad valorem tariff on a small country.
Full employment implies which of the following is reduced to zero?
A. Cyclical unemployment only B. Frictional unemployment only C. Frictional and structural unemployment only D. Frictional, structural, and cyclical unemployment
An increase in the reserve ratio ______ the size of the monetary multiplier.
Fill in the blank(s) with the appropriate word(s).