Economic growth in China ________
A) would have been impossible in the absence of its impressive record of financial development
B) occurred despite limited domestic financial development
C) can continue indefinitely without additional financial development
D) has occurred despite a relatively low domestic saving rate
B
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Of the following market structures, which is the most competitive?
A) perfect competition B) monopolistic competition C) monopoly D) oligopoly
The original mission of the World Bank was to
A) provide capital to underdeveloped countries. B) provide capital to firms around the world. C) provide financial assistance for the reconstruction of war-damaged nations. D) provide a safe place for people around the world to put their money. E) help countries manage their exchange rates.
John Maynard Keynes believed the ideas of economists to be
a. generally incorrect. b. powerful. c. academic and without practical application. d. rantings of madmen.
In the example of the peg between Britain and Germany, what would have been the case if Britain had allowed the pound to float and depreciate after Germany's GDP rise?
A) Britain would have suffered depreciation and a recession. B) Britain would have had to raise interest rates. C) Britain would no longer be eligible to join the new euro currency. D) Britain could have lowered interest rates and enjoyed an added boost to GDP.