Most economists explain China's growth after 1980 as primarily due to a more educated population.
Answer the following statement true (T) or false (F)
False
Most economists think China's abandonment of centralized planning and adoption of a greater role for markets, that is, a change in institutional structure, was the key to greater growth.
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Pollution is an example of a ________ externality
A) negative production B) positive production C) negative consumption D) positive consumption E) Coasian
What is the underlying assumption of the original, simplified Keynesian model?
A) The relevant range of the short-run aggregate supply curve (SRAS) is vertical. B) The relevant range of the aggregate supply curve (AS) is vertical. C) The relevant range of the short-run aggregate supply curve (SRAS) is horizontal. D) The relevant range of the long-run aggregate supply curve (LRAS) is horizontal.
An economy that is an active participant in international trade is
A) an egalitarian economy. B) a closed economy. C) an economy whose currency value fluctuates widely. D) an open economy.
Table 14.2Monetary Aggregates of the U.S. Financial SystemItemAmountCash held by public$100 billionTransactions deposits$300 billionRequired reserves$30 billionExcess reserves$0 billionU.S. bonds held by public$475 billionAssume an original balance sheet: The total money supply (M1) in Table 14.2 is
A. $400 billion. B. $430 billion. C. $100 billion. D. $905 billion.