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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According to the real business cycle theory, which of the following would be a real disturbance to the economy?
A) change in the required reserve ratio B) reduction in the money supply C) increase in the rate at which married women participate in the labor force D) increase in the price level
If the Fed wants to reduce banks' reserves, it can
a. buy securities in the open market. b. lower the reserve ratio. c. lower the federal funds rate. d. raise the discount rate.
Distinguish between invention and innovation.
What will be an ideal response?
Monetarists believe that
A. Monetary policy is effective only in a recession. B. The money supply should be expanded at a steady, predictable rate. C. Interest rates are the critical policy lever. D. Government spending and taxes are the critical policy levers.