770 $
© 2014 Pearson Canada Inc.$
The financial crisis that began in August 2007 initially had ____ effect on China but
caused exports to fall by ____ percent.
A) no; 20
B) a moderate; 20
C) large; 20
D) no; 1
Answer: A
Diff: 2 Type: MC Page Ref: 598
Skill: Recall
Objective List: 24.1 Interpret the aggregate demand and supply framework for the determination
of aggregate output and the inflation rate
The Chinese central bank is ____.
A) Hong Kong Shanghai Bank of China
B) People's Bank of Canada
C) the People's Republic Bank
D) Republic of China Central Bank
Answer: B
Diff: 2 Type: MC Page Ref: 598
Skill: Recall
Objective List: 24.1 Interpret the aggregate demand and supply framework for the determination
of aggregate output and the inflation rate
To manage the large export losses resulting from the U.S financial crisis, China implemented
____ policy, amounting to ____ percent of Chinese GDP.
A) fiscal; 12.5
B) fiscal; 25
C) monetary; 12.5
D) monetary; 25
Answer: A
Diff: 2 Type: MC Page Ref: 598
Skill: Recall
Objective List: 24.1 Interpret the aggregate demand and supply framework for the determination
of aggregate output and the inflation rate
During the 2007-2008 financial crisis, China's economic growth slowed from over ____
percent in the first half of 2008 to under _____ percent in the second half.
A) 11; 5
B) 10; 6
C) 11; 2
D) 11;10
Answer: A
Diff: 2 Type: MC Page Ref: 598
Skill: Recall
Objective List: 24.1 Interpret the aggregate demand and supply framework for the determination
of aggregate output and the inflation rate