Which of the following would NOT be a sign that China wants to become a high technology producer?
A) More patents are being sought and granted in China.
B) Large spending on infrastructure
C) Rapid expansion of science, engineering and research
D) Less emphasis on education spending
D
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During times of high unemployment, colleges often observe an increase in enrollment even if tuition remains unchanged. Why?
A. The opportunity cost of attending college is higher when unemployment is high. B. The benefit of attending college is lower because college graduates are less likely to find jobs. C. The opportunity cost of attending college is lower when unemployment is high. D. Students go to college even when the net benefit is negative.
Which of the following best describes the chain of events in the money creation process?
A) The monetary base increases. Banks acquire excess reserves which they loan out, increasing deposits and also the quantity of money. The new deposits then create additional excess reserves. B) Currency is drained from the quantity of money into the banking system, where it is lent out. The loans are spent, increasing the currency drain and also the quantity of money. C) Desired reserves increase, encouraging banks to seek new deposits. When the new depositors come in, desired reserves decrease and the quantity of money increases. D) Low interest rates discourage people from holding currency. When they deposit the currency, interest rates rise, increasing the quantity of money.
A legitimate objection to the government issuance of "indexed" bonds is that they
A) are more of a drain on the Treasury than conventional bonds. B) can encourage inflation and weaken policy resistance to it. C) discourage saving when inflation is reduced. D) further discourage the use of money and thus increase shoe-leather costs.
Tina Eckstrom and her husband bought a deferred annuity in 1954 that started paying them $700 a month in retirement benefits in 1994 . During the 40 years period, the price level rose 3.2 percent per year. Since 1994, the price level has risen 3.0 percent per year. They, along with millions of other people who live on fixed incomes, are examples of
a. those who are responsible for inflation b. people who gain from inflation c. people who lose from inflation d. the paradox of thrift e. underemployed persons