Which of the following statements about China's economy before 1949 is INCORRECT?Question 6Answera.From 1860 to 1949, China's economy grew annually from 4 to 10 percent.b.China was the largest composition of World GDP at the beginning of 19th century.c.The Nationalists government created a coherent monetary and banking system in urban China.d.The 8th and 9th centuries were a period of growth and prosperity

Which of the following may NOT be the reason why after 1949 China decided to adopt the system that industrial inputs and output were allocated administratively by a government:Question 7Answera.China adopted the economic system of the Soviet Union, which was seen as being successful at achieving a relatively high rate of economic growth and a modernizing economy.b.The economic growth model used by the Soviet and China in the 1950s assumed that international trade would play only a very minor role in their economies, thus a country must produce all of the goods that it needs or wants.c.Social stability after World War II and the Civil War had provided China with sufficient industrial production capacity.d.In the ruling Chinese Communist Party’s ideology, markets were irrational; and markets in the 1940s were seen as associated with capitalism, imperialism, and colonialism.

22. Which type of economic system is followed in China? (1)(a) Mixed Economy(b) Socialist Economy(c) Capitalist Economy(d) None of these

1. Describe comprehensively the very nature of Chinese economic system. Consider the ownership of means of production (6) andchanges in Chinese economy since the 1980s (10).

Which of the following statements best summarizes the growth in GDP in the U.S. between 1900 and 2010?Multiple choice question.Real GDP rose more than tenfold.Real GDP rose more than sixfold.Real GDP remained constant.

Which of the following is the biggest driver of China's economic growth since 1990s?A.Technological innovationB.Productivity gainC.Labour resourceD.Capital accumulation