In 2003, China's control of the value of the yuan became an economic and political issue for the U.S. because:
A) increased U.S. exports to China.
B) decreased U.S. exports to China.
C) increased China imports from the U.S.
D) none of the above.
B
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The selling of a product for a price below its cost of production is called
A) operating at a loss. B) unfair competition. C) fair competition. D) dumping.
The selling prices of goods and services in the open market is called the _______ value.
a. exchange b. sale c. money d. risk e. none of the above
Melanie and Oli are competing Pacific halibut fishers. Both have been allocated ITQs that limit their catch to 1,000 tons of Pacific halibut each. Melanie's cost per ton is $20; Oli's cost per ton is $28. Refer to the information given. If the
market price of Pacific halibut is $40 per ton, what is the minimum amount per ton that Melanie would have to offer Oli to convince him to sell Melanie his ITQs? A. $8. B. $10. C. $20. D. $12.
The economy can produce 15X and 15Y, 10X and 20Y, 5X and 25Y, or 0X and 30Y. It follows that opportunity cost of 1X is ___Y.
What will be an ideal response?