Which of the following is TRUE?
A) India is the world's largest democracy.
B) India began reforming and opening its economy prior to China.
C) At the end of the twenty-first century, China will have a larger population than India.
D) India has a larger population than China currently.
E) India has a larger manufacturing sector than China.
A
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Suppose a plaintiff hires a lawyer to represent her in a court case. She agrees to pay the lawyer a wage per hour
She knows precisely what the lawyer should do and how long each activity should take, and she can verify that the lawyer has correctly completed each activity. She can terminate the contract at any time. With this contract, A) the lawyer bears all the risk. B) the risk is shared by the lawyer and the plaintiff. C) production efficiency can be achieved. D) production efficiency is impossible.
Suppose policy makers decide to reduce taxes. This fiscal policy action will cause which of the following to occur?
A) The LM curve shifts and the economy moves along the IS curve. B) The IS curve shifts and the economy moves along the LM curve. C) Both the IS and LM curves shift. D) Neither the IS nor the LM curve shifts. E) Output will change causing a change in money demand and a shift of the LM curve.