China's economy did not decline at all during its transition from communism to capitalism

Indicate whether the statement is true or false

TRUE

Economics

You might also like to view...

Which of the following is directly accounted for in the calculation of GDP?

A) the value of one hour of leisure as measured by the hourly wage one would otherwise earn by working B) the value of repairing your own kitchen sink as measured by the average rates charged by local plumbers C) cash earnings from an illegal poker game D) improvements in quality of life from the reduction of pollution E) None of the above items is accounted for in GDP.

Economics

As a result of increasing its workforce from 9 workers to 10 workers, a firm's total revenue per day increases from $60,000 to $60,250 and its total cost per day increases from $58,500 to $58,700 . The marginal profit of the 10th worker is

a. -$50. b. $50. c. $200. d. $250.

Economics