China has roughly how much of the world's population?
A. 40 percent.
B. 30 percent.
C. 20 percent.
D. 10 percent.
Answer: C
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When a tax is placed on sellers:
A. sellers always bear a higher incidence than buyers. B. buyers always bear a higher incidence than sellers. C. the effect on the price buyers pay and sellers receive is the same as a tax on buyers. D. None of these is true.
Exhibit 10A-6 Aggregate demand and supply model
?
?Beginning from a point of short-run equilibrium at point E2 in Exhibit 10A-6, the economy's movement to a new position of long-run equilibrium from that point would best be described as:
A. ?a movement along the AD2 curve caused by a shift in the SRAS1 curve to SRAS2. B. a movement along the SRAS2 curve with a shift in the AD2 curve. C. ?a shift in the LRAS curve to an intersection at E3. D. ? no shift of any kind.
Considering only its direct effect on income, an expansionary monetary policy tends to:
A. increase a trade deficit and decrease the exchange rate. B. decrease a trade deficit and decrease the exchange rate. C. increase a trade deficit and increase the exchange rate. D. decrease a trade deficit and increase the exchange rate.
When one country can produce a product at a lower cost in terms of other goods, that country is said to have
A. a productive advantage. B. an absolute advantage. C. a comparative advantage. D. an unfair advantage.