From 1978 to 2003, China grew on average ________ percent per year, a rate faster than any other country in the world.
A. 4
B. 9
C. 25
D. 75
Answer: B
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Suppose 100 citizens each derive marginal benefit from submarines according to the function MB = 10 - Q. If subs cost $100 each to produce, what is the efficient quantity of submarines?
What will be an ideal response?
If 1 U.S. dollar exchanges for 7.0 Chinese Yuan, how much would it cost in U.S. dollars and cents to purchase a Chinese toy priced at 140 Yuan?
What will be an ideal response?
Substitution bias causes the CPI to understate the increase in the cost of living from one year to the next
a. True b. False Indicate whether the statement is true or false
Which of the following is a legal way to reduce the price problems oligopolies face?
A. Collusion B. Formation of cartels C. Price leadership D. Merging to become monopolists