ccording to the East Asia and Pasific Economic update published by the World Bank in April 2015, the following factors have affected China’s real GDP in 2015. • Global economic recovery supports a moderate increase in China’s exports
ccording to the East Asia and Pasific Economic update published by the World Bank in April 2015, the following factors have affected China’s real GDP in 2015. • Global economic recovery supports a moderate increase in China’s exports
Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter16: Creating An Environment For Growth And Prosperity
Section: Chapter Questions
Problem 14CQ
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Question
According to the East Asia and Pasific Economic update published by the World Bank in April
2015, the following factors have affected China’s real
• Global economic recovery supports a moderate increase in China’s exports.
• China benefits from a fall in the world price of oil
• Chinese government to cut excess capacity in heavy industry
• U.S firms to relocate their labor-intensive manufacturing industries to low-cost a
countries.
1. How to explain that each factor separately affect China’s real GDP and the price level, starting
from a position of long-run equilibrium.
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