In order to maintain an undervalued yuan to encourage a trade surplus, the Chinese government must buy dollars and increase the supply of yuan
Indicate whether the statement is true or false
TRUE
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GDP calculations tend to exclude all of the following EXCEPT
A) environmental quality. B) salaries paid to government employees. C) illegal transactions. D) work that people do for themselves in their own homes.
Which of the following statements concerning tariffs is NOT true?
A) A tariff results in a deadweight loss. B) A tariff creates revenue for the government. C) A tariff decreases international trade. D) A tariff leaves the price of imports unchanged.
What triggers exit in a competitive market? Describe the process that ends further exit
What will be an ideal response?
Which of the following factors will reduce considerably the ability of a union to raise the wages of its workers?
a. an elastic demand for the goods produced by union labor b. weak foreign competition for the product union labor helps to produce c. high tariffs on goods produced by the union labor d. favoritism in the allocation of government contracts to firms that employ union labor