China's approach to market development has been
A. nonexistent.
B. inefficient and intermittent.
C. unrealistic and uneven.
D. pragmatic and gradual.
Answer: D
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Suppose Bob works for Mary as a proofreader. Mary and Bob fall deeply in love, marry, and have eight children. Bob stops working for Mary in order to care for the children. What will be the effect on GDP?
A) GDP will not change. B) GDP will increase. C) GDP will decrease. D) GDP may increase or may decrease depending on inflation.
Which of the following would be classified as a consumer nondurable?
a. New clothing b. A new central heating system c. A new car d. A new bedroom suite e. A new riding mower
An increase in the foreign one-year interest rate expected to occur in, say, two years will, all else fixed, have which of the following effects in a flexible exchange rate regime?
A) The real exchange rate will decrease with no change in the nominal exchange rate. B) The nominal exchange rate will decrease with no change in the real exchange rate. C) Both the real and nominal exchange rate will decrease. D) No change in either the nominal or real exchange rate. E) Both the real and nominal exchange rate will increase.
In the long run, demand-pull inflation leads to:
A. Higher unemployment and higher price level B. Lower real wages and higher unemployment C. Lower real output and no change in unemployment D. Higher price level and no change in real output