(Last Word) Which of the following problems has not accompanied China's rapid economic growth over the past twenty-five years?
A. High rates of inflation.
B. Structural unemployment of displaced agricultural workers.
C. Uneven economic development.
D. Falling per capita income.
Answer: D. Falling per capita income.
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A stock market crash which causes stock prices to fall should cause
A) an increase in wealth. B) an increase in consumption spending. C) no change in consumption spending. D) a decrease in consumption spending.
Jen has a PhD in economics and has been working for 3 years part-time as an instructor; she has always hoped to be hired as a full-time faculty member. The best way to describe Jen is to say she is:
A. a discouraged worker. B. unemployed. C. underemployed. D. overemployed.
For a major country with extensive capital flows, what is the effect of a decrease in interest rates?
a. There will be an inflow of capital, a currency depreciation, and increased net exports. b. There will be an inflow of capital, a currency depreciation, and reduced net exports. c. There will be an outflow of capital, a currency depreciation, and increased net exports. d. There will be an inflow of capital, a currency appreciation, and reduced net exports.
Which of the following would be an example of capital for a retail gasoline station? (i) the gas tanks and pumps (ii) the service attendants' time (iii) the plot of land on which the station sits
a. (i) only b. (iii) only c. (i) and (iii) only d. (ii) and (iii) only