1, The Chinese export surplus inevitably means: (a) Chinese capital imports: (b)

Q: 1, The Chinese export surplus inevitably means: (a) Chinese capital imports: (b)

21. None of the above. Explanation: Export surplus means the amount by which the exports of a country exceeds its imports. China's exports are much higher than its imports. The country actively promotes its exports through currency devaluation, low-cost production, subsidy, etc.

ID: 1125403 • Letter: 1

Question

1, The Chinese export surplus inevitably means: (a) Chinese capital imports: (b) of foreign assets; (c) Chinese increase in interest rates (d) none ot the above 22. The U s economic stimulus package during and after the great recession was designed to: (a) increase increase exports: (d) increase imports aggregate demand; (b) reduce the government deficit, (c) in some periods in increase in 23, US households were consuming more than 100% of their income the last two decades. This was probably due, at least partially, to: (a) (d) all of the values; (b) increase in imports; (c) increase in the government surplus above 24. The current US economic scene has the following in common with the US experience in the 1930s: (a) inflation; (b) liquidity trap; (c) deflation; (d) none above 25. The difference between a full index of inflation and a core index of inflation is: (a full index applies to consumers while a core index applies to producers: (b) a full index is a retail index while a core index is a wholesale index: (c) a full index includes food and energy while a core index excludes food and energy (d) none of the above. 26. Usually, when the economy approaches the full employment level of output and goes beyond that level: (a) inflation tends to rise; (b) tax receipts tend to rise, (c) private sector imports tend to rise; (d) all of the above. 27. In the IS/LM diagram, looking at the demand for money, the relevant interest rate for the LM curve is: (a) the short term nominal rate; (b) the short term real rate: (c) the 28. Long term output per worker and living standards depend on: (a) siower population 29. To indefinitely maintain a high growth rate of output per capita, a country needs: (a) long term nominal rate; (d) the long term real rate. growth; (b) technological change; (c) the national savings rate; (d) all of the above. capital accumulation; (b) technological progress; (c) a higher savings rate, (d) a low growth rate of population. 30. Increases in the import surplus tend to: (a) increase US employment, (b) decrease the US budget deficit, (c) increase US aggregate demand; (d) none of the above 31. A self adjusting mechanism that might have stopped the Great Depression near its start failed in part because of: (a) an increase in the nominal money stock, (b) an increase in the price level: (c) expectations of deflation; (d) none of the above. 32. There has been good deal of emphasis on reducing the Federal deficit. This is likely

Explanation / Answer

21. None of the above.

Explanation: Export surplus means the amount by which the exports of a country exceeds its imports. China's exports are much higher than its imports. The country actively promotes its exports through currency devaluation, low-cost production, subsidy, etc.

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1, The Chinese export surplus inevitably means: (a) Chinese capital imports: (b)

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