The fall in the U.S. dollar has not affected Chinese trade as much as that for other countries because:
a. China has appreciated its currency.
b. China has reduced its exports.
c. China has depreciated its currency.
d. China has pegged its currency to the dollar.
Ans: d. China has pegged its currency to the dollar.
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A tax is progressive if the ratio of taxes to income rises as income rises.
Answer the following statement true (T) or false (F)
The main reason barter is extremely inefficient is that:
A. you have to find someone who both has what you want and wants what you have. B. it can have very high transactions costs associated with it. C. people and firms have to spend a lot of time looking for mutually agreeable trades. D. All of these are true.
The purpose of open-market operations is to
a. finance government spending. b. influence the flow of credit and money. c. ensure the safety of deposits in the commercial banks. d. support the value of Federal Reserve notes.
Suppose the demand curve for a good shifts rightward, causing the equilibrium price to increase. This increase in the price of the good results in
A) a rightward shift of the supply curve. B) an increase in quantity supplied. C) a leftward shift of the supply curve. D) a downward movement along the supply curve.