From 1996 to 2011, the rate of growth of output per worker in China has been approximately equal to
A) 5%.
B) 10%.
C) 15%.
D) 18%.
E) 23%.
B
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When the price level rises and increases the demand for money, the nominal interest rate ________ and the real interest rate ________
A) falls; rises B) rises; falls C) rises; rises D) falls; falls E) does not change; does not change
Refer to Scenario 2.1. If P = $25, which of the following is true?
A) There is a surplus equal to 30. B) There is a shortage equal to 30. C) There is a shortage, but it is impossible to determine how large. D) There is a surplus, but it is impossible to determine how large.
If a natural disaster were to cause a negative long-run supply shock to the economy, once the economy adjusts, the new equilibrium will be at a:
A. higher price level and lower level of output. B. lower price level and lower level of output. C. higher price level and higher level of output. D. lower price level and higher level of output.
In order to avoid the imposition of other types of trade barriers, foreign producers will sometimes agree to voluntary export restraints. With voluntary export restraints, foreign producers
A) agree to meet specific quality standards required by the importing country. B) limit their exports to a country. C) pay a tax on all products they export. D) must agree to import an equal quantity of products that they export.