One reason China has been able to grow so rapidly even though its financial development is still in its early stages is
A) the high savings rate of around 40%.
B) the shift of labor to the agricultural sector.
C) the stringent enforcement of financial contracts.
D) the ease of obtaining high-quality information about creditors.
A
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One example of a microeconomic question is, "How will prices in the clothing industry change if the government bans imports from China?"
Indicate whether the statement is true or false
Consider the labor market depicted in the above figure. The competitive equilibrium would be for ________ hours of employment
A) 200 B) 400 C) 600 D) None of the above answers is correct.
Which of the following two effects of a decrease in the tax rate on saving would raise savings?
a. the income effect and the substitution effect b. the income effect but not the substitution effect c. the substitution effect but not the income effect d. neither the substitution effect nor the income effect
When two goods are unrelated,
A) their cross price elasticity of demand will be infinity. B) their cross price elasticity of demand will be 0. C) their cross price elasticity of demand will be negative. D) their cross price elasticity of demand will be positive.