In 2009, _________ became the world's largest exporter.
A. Germany.
B. China.
C. Japan.
D. Russia.
B. China.
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Answer the following statements true (T) or false (F)
Economies cannot function without money. The amount of national income in an economy equals the money supply in an economy. Liquidity increases as we move from the M1 to the M2 definition of the money supply. If gold is used as money in an economy, the money supply is easy to control. Commodity money can be used only as a medium of exchange.
Consider an economy where the growth rate of real GDP is 6% and the growth rate of money supply is 8%. If the quantity theory of money holds, the inflation rate in the economy will be:
A) 8%. B) 6%. C) 2%. D) 14%.
What is most affected by the expected rate or pace of economic growth?
A) investment spending B) government purchases C) unemployment D) exports
Refer to Table 17.1. The labor force participation rate for this simple economy is
A) 25%. B) 40%. C) 50%. D) 60%.