Beginning in ________, the government of China adopted market-based reforms of the economy and began exporting significant quantities of goods to the United States and other countries
A) 1949
B) the 1970s
C) the 1990s
D) 2001
Answer: B
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Use the following graph, which shows the supply and demand for British pounds, to answer the next question.
D1 and S1 represent the initial demand and supply curves. If the supply of British pounds in the foreign exchange market shifts to S3, and the British government wants to fix the exchange rate at its initial level, then it should ________.
A. buy U.S. dollars to add to its reserves B. sell U.S. dollars out of its reserves C. buy British bonds in the open market D. sell British pounds in the foreign exchange market
Suppose the Fed buys $1 billion worth of bonds and the required reserve ratio is 5%. In theoretical limit, the money supply could
A) decrease by $5 billion. B) increase by $5 billion. C) increase by $20 billion. D) decrease by $20 billion.
During the Great Recession of 2008, which of the following corporations generated the greatest profits?
A. Walmart B. Exxon C. Microsoft D. General Motors
Suppose the price of an apple is $0.75, and the price of a banana is $0.50. If Hugh is maximizing his utility, and his marginal utility from consuming an apple is 24 utils, then his marginal utility from consuming a banana must be:
A. 32 utils. B. 16 utils. C. 12 utils. D. 36 utils.