Which of the Following Was Among China's Internal Reform Strategies

question 251

Multiple Choice

Which of the following was among China's internal reform strategies pursued in the 1980s?

• A) Regional specialization was encouraged.
• B) Economic decision making was centralized.
• C) Competition was discouraged.
• D) Tariffs were introduced.

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Definitions:

Price of Capital

The cost of using capital goods in production, which can include interest, depreciation, and other expenses related to the acquisition and use of capital assets.

Units of Output

The quantity of goods or services produced by a company, individual, or industry.

Variable Cost

Costs that are directly influenced by the scale of manufacturing.

Monthly Lease

A contract outlining the rental agreement for a property on a month-to-month basis.