During the first 6 months of 2008, the European Union (EU) initiated an anti-dumping case against China for imports of taper candles. What is dumping?
A) when China sells its candles to the EU at a lower price than China's cost of production
B) when China does not pay the tariff on the candles
C) when China sells its candles to the EU at a lower price than other producers
D) when China tries to sell more candles to the EU than is allowed by the import quota
A
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According to ________, there is a close connection between unemployment and the growth rate of real GDP
A) Say's Law B) Okun's Law C) Engel's Law D) Ricardo's Law
Refer to Table 2-5. If the two countries specialize and trade, who should export cell phones?
A) Estonia B) They should both be importing cell phones. C) There is no basis for trade between the two countries. D) Finland
The price of a first-class stamp in 1957 was 3 cents, and it is 49 cents in 2014. From this we know that
A) both the relative and the absolute price of first-class stamps increased from 1957 to 2014. B) the money price of first-class stamps increased from 1957 to 2014 but the absolute price of first-class stamps stayed constant. C) the money price of first-class stamps increased from 1957 to 2014 and the relative price of first-class stamps decreased. D) the money price of first-class stamps increased from 1957 to 2014, but we can't tell if the relative price of first-class stamps increased or decreased without more information.
Liquidity refers to how:
A. easy an asset is to convert immediately to cash without losing value. B. quickly the same dollar changes hands in the economy. C. quickly the average household spends its disposable income. D. easy money converts to assets in an economy.