Worries about China\'s slowing growth China roported that ts real GDP grow by 6.

Question

Worries about China's slowing growth China roported that ts real GDP grow by 6.9 percent in 2015, down from 7.3 percent in 2014. Experts think that China has How does China's real GDP growth compare with thait of the United States overstated is true growth rate and many fear that its growh will slow furthor Soure The Ecenomist January 1, 2016 f China's growth slows further, would that mean it was in a recession? China's real GOP growth isthanthat of the United States China's growth slows further, China O A greater O B smaller OC greater O D. greater will not be in a recession because eal GDP growth although slowing is still positive may or may not be in a recession. It depends on the relationship betweon real GDP and potential GDP will be in a recession because real GOP growth is slowing wilret bo n arecesson because Cina's real GOP gowe, sgeater than us.real aoP gowth and we ??wrathe unod Sides is not..reeesem

Explanation / Answer

- A is correct

China's real gdp growth in 2016 was 6.7% and US' was 1.6%.

Real gdp is still positive even when growth rate is slowing. This means china is not in recession.

- B is correct

0.50 is the producer surplus.

Producer surplus= 0.5(p-P' ) q

P' is the minimum price that is when q= 0 and is equal to 0.

p= 1 and q= 1 (10000th unit)

Producer surplus= 0.5(1-0)1= 0.5

- B, decreases is correct.

Nation starts importing when world price is lower than domestic equilibrium price. At lower price , lower quantity of the good is supplied which needs lower level of workers. Thus employment decreases.

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