Which of the following has contributed to China's economic growth since 1980?
a. the rapid growth of foreign aid from European countries
b. nationalization of many private industries
c. increased restrictions on international trade
d. increased privatization of the agricultural and small-business sectors
D
You might also like to view...
U.S. taxpayers spend many hours during the year maintaining records for tax purposes and preparing their income tax returns. This administrative cost
A) is part of the deadweight loss of taxation. B) is larger for individuals in the lowest income quintile than for individuals in the highest income quintile. C) is equal to the value of consumer surplus associated with the income tax system. D) can be claimed as a deduction on income tax returns.
According to the aggregate demand-aggregate supply model, what is the short-run impact of a reduction in the money supply by the Fed?
A) Current output will fall, but the price level will rise. B) Current output will rise, but the price level will fall. C) Current output and the price level will both rise. D) Current output and the price level will both fall.