Which of the following is TRUE?
A) Russia is more dependent of international trade than Brazil.
B) Exports and imports are rising more slowly than GDP in the BRIC countries.
C) China was the last of the BRICs to start economic reforms.
D) All of the BRIC countries had to transition from socialist or communist systems.
A
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In addition to keeping interest rates too low for too long, the Fed also:
A. overestimated the importance of the housing sector for the whole economy. B. kept government spending too high for too long in the years leading up to the recession. C. ran too great of a budget surplus in the years leading up to the recession. D. underestimated the impact of a decline in the housing sector on the whole economy.
The figure above shows Sam's budget line. The magnitude of the slope of Sam's budget line is equal to the
A) quantity of coffee purchased divided by the quantity of gasoline purchased. B) price of coffee divided by the price of gasoline. C) quantity of gasoline purchased divided by the quantity of coffee purchased. D) price of gasoline divided by the price of coffee.