In recent years, which countries have taken a unilateral approach to the removal of trade restrictions?
a. China and North Korea
b. Chile and South Korea
c. Russia and Japan
d. the United States and Mexico
b
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In September 2010, the finance minister of ________ declared that the world was "in the midst of an international currency war" because of rapid appreciation in the value of the country's currency, the ________
A) England; pound sterling B) Germany; euro C) Japan; yen D) China; renminbi E) Brazil; Real
A theory of saving is necessarily a theory of consumption, because ________
A) by definition, any unit of disposable income that is not a consumption expenditure is a unit of saving B) consumption decisions are made after saving has occurred C) private saving is equal to private investment D) the goal of consumption choices is to achieve the desired level of savings
A trade deficit means that net exports are positive
a. True b. False Indicate whether the statement is true or false
Public goods tend to be undersupplied through the market since it is difficult for potential suppliers to withhold such goods from nonpaying consumers; the government can use taxes to overcome this problem of nonpayment
a. True b. False Indicate whether the statement is true or false