Over the last several years, the Chinese government has allowed the yuan to rise in value relative to the dollar. This means that Chinese-made goods
A. will be less affordable for Chinese consumers.
B. are now more expensive compared to U.S.-made goods.
C. will be harder to compete with in U.S. markets.
D. are now less expensive for U.S. consumers.
Answer: B
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Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential
For Country A, the world price of soybeans exceeds the domestic equilibrium price of soybeans. As a result, international trade allows buyers of soybeans in Country A to experience greater consumer surplus than they otherwise would experience
a. True b. False Indicate whether the statement is true or false
Insurance companies practice statistical discrimination because:
A. young males are more likely than other groups to generate insurance claims. B. insurance markets aren't perfectly competitive. C. young males are willing to pay more for insurance than other groups. D. the demand for insurance is very inelastic.
In the United States, natural monopolies
A. are easily converted to competitive industries. B. are common in retailing. C. are commonly regulated by governments. D. are rarely regulated by governments.