Author Question: Since the 1980s, China's output per person has increased tremendously. Which of these possible ... (Read 70 times)

james0929 · **on:** Jun 30, 2018

Since the 1980s, China's output per person has increased tremendously. Which of these possible contributors to economic growth in China is a good example of a positive supply shock?

A) high levels of saving and investment
B) declining rate of population growth
C) rising consumption of energy
D) all of the above
E) none of the above

Question 2

Suppose we have the following information about a furniture maker: furniture sales 100M, wood purchases 60M, wages 25M, tax on profits 5M, profits 10M. What is the contribution to GDP of this company using the product approach?

A) 100M.
B) 60M.
C) 40M.
D) 15M.