When China devalues its currency
a. the dollars per Chinese yuan will increase
b. the drain of U.S. reserves on Chinese yuan will fall.
c. U.S. exports to China will increase.
d. the price of imported Chinese textiles in the U.S. will fall.
e. Chinese imports will increase.
D
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Underlying economic theory is the idea that
A) people respond only to negative incentives, not to positive ones. B) choices are affected by both positive and negative incentives. C) value judgments do not play a role in the economic decisions people make. D) money is the only incentive that matters.
Which of the following would tend to decrease the demand for carpenters?
a. An increase in the wages of carpenters. b. An increase in the price of houses. c. A decrease in the demand for houses. d. An increase in the supply of carpenters.
A zero percent unemployment rate
A) is the only efficient unemployment rate. B) is one of the economic goals of the Canadian government. C) is not consistent with the notion of full employment. D) was last achieved during World War II when everyone was willing to work at the going wage rate to end the war. E) would alleviate scarcity
One of the main differences between an oligopolistic firm and a monopolistically competitive firm is that a monopolistically competitive firm
A. Is relatively independent; an oligopoly is interdependent. B. Has high barriers to entry; an oligopoly does not. C. Has no market power; an oligopoly has some market power. D. Faces a horizontal demand curve; an oligopoly does not.