If Chinese consumers want to buy US goods, they will
a. buy Yuans to sell US Dollars
b. Sell Yuans to buy US Dollars
c. Demand Yuan
d. Both b and c
b
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Refer to Table 14-9. In order to maximize profit, the firm will produce a level of output where marginal cost is equal to
a. $6. b. $7. c. $8. d. $9.
If Y>C+I+G but Md= Ms, then
a. interest rates must rise and output must fall. b. both interest rates and output must fall. c. interest rates must fall and output must rise. d. both interest rates and output must rise. e. none of the above.
What consumer surplus is received by someone whose willingness to pay is $35 below the market price of a good?
A. $35 B. $0 C. ($35 x P*) D. None of these is correct.
In Figure 13-3, according to economic theory, the kink in the demand curve will occur at point
A. E. B. A. C. C. D. D.