Chinese leader Deng Xiaoping began what process in the 1980s?
A. Moving the economy toward central planning
B. Globalization
C. Shifting away from a centralized economy
D. The Chinese cultural revolution
Answer: C
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If there is a sudden increase in government spending, which of the following should the Fed do if it wants to keep output unchanged?
a. Do nothing, since the self-correcting mechanism will adjust the economy b. Sell bonds in the open market c. Wait, since output usually does not change when government spending increases d. Decrease the required reserve ratio e. Buy bonds in the open market
From the beginning of 2007, the value of the U.S. dollar
a. dropped sharply against major currencies. b. increased mildly against major currencies. c. remained stable relative to major currencies. d. fluctuated with no major trend against major currencies.