China's economic growth and emergence as a major exporter was assisted by
A. opening the country to foreign direct investment (FDI).
B. restricting inflows of FDI.
C. exploiting a comparative advantage in primary products.
D. the use of inward-oriented policies.
Answer: A
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The provision of additional cash to the banking system is an example of ________ policy.
A. structural B. aggregation C. monetary D. fiscal
If a perfectly competitive firm produces an output level at which price is greater than marginal cost, then the firm should:
A. leave its output decision unchanged because it is earning a profit. B. employ more fixed factors of production. C. expand output to earn greater profits or smaller losses. D. reduce output to earn greater profits or smaller losses.
The total revenue received by sellers of a good is computed by:
A. Multiplying the price times the quantity sold B. Adding the price and the quantity sold C. Multiplying the %-change in price times the %-change in quantity D. Dividing the %-change in quantity by the %-change in price
Refer to the figure above. When the demand curve for gas is D2 and the supply curve for gas is S, the surplus in the market when price is $8 is:
A) 20 gallons. B) 55 gallons. C) 25 gallons. D) 50 gallons.