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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Which branch of economics considers that economic agents do not always act rationally?
A) Microeconomics B) Macroeconomics C) Behavioral economics D) Econometrics
A decrease in the real interest rate occurs when ________
A) there is an autonomous tightening of monetary policy B) expected inflation increases, relative to the nominal interest rate C) a decrease in autonomous spending causes a decrease in equilibrium output D) all of the above E) none of the above
Measuring the intensity of the business cycle requires
a. adding seasonal variations to cyclical fluctuations. b. adding seasonal variations and random fluctuations to cyclical changes. c. eliminating seasonal variations and identifiable random forces from the data. d. multiplying the trend by the cyclical fluctuations.
A “single tax” on land was proposed in the nineteenth century by
A. Lloyd George. B. Henry George. C. George Washington. D. George Sands.