In 2003, China's control of the value of the yuan became an economic and political issue for the U.S. because:
A) increased U.S. exports to China.
B) decreased U.S. exports to China.
C) increased China imports from the U.S.
D) none of the above.
B
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According to the Solow model, given the levels of total efficiency units of labor and technology:
A) efficiency units of labor do not play any role in the determination of steady-state equilibrium level of GDP. B) there is a maximum fixed level of GDP that an economy can achieve by increasing savings. C) increases in the savings rate is the sole reason for sustained economic growth. D) increases in the rate of physical capital accumulation can be the sole reason for sustained economic growth.
To determine the real interest rate in the data, one should take the interest rate on government debt
A) and leave it at that. B) and add the inflation rate. C) and subtract the inflation rate. D) and divide by the inflation rate.