The Undercover Economist chapter on "How China Became Rich" explains how
A) Centrally planned agricultural policies of Mao that dictated the crops to be grown and the methods to be used led to the starvation of millions of Chinese
B) China began to develop because of its emphasis on its agricultural economy
C) Although Communist, China privatized almost all production equipment and allowed managers full production discretion by the late 1970s
D) Changes from central planning that incentivized managers in China to pay attention to markets helped transform the country's economy
Answer:
A) Centrally planned agricultural policies of Mao that dictated the crops to be grown and the methods to be used led to the starvation of millions of Chinese
AND
D) Changes from central planning that incentivized managers in China to pay attention to markets helped transform the country's economy
You might also like to view...
________: branch of economics that focuses on the economic actions of individuals or specific groups of individuals
Fill in the blank(s) with correct word
If real GDP exceeded potential real GDP and inflation was increasing, which of the following would be an appropriate fiscal policy?
A) a decrease in the money supply and an increase in the interest rate B) an increase in government spending C) an increase in taxes D) an increase in oil prices
After Suzie, owner of Suzie's Sweet Shop, hires her 8th worker the average product of labor declines. Which of the following statements must be true?
A) The average product of labor is negative. B) The marginal product of the 8th worker is negative. C) The marginal product of the 8th worker is less than the average product of labor before the 8th worker was hired. D) Suzie's profits would be greater if she did not hire the 8th worker.
What is a stock? How do stocks affect the economy?
What will be an ideal response?