Evidence shows that the Chinese yuan was substantially overvalued against the U.S. dollar in mid-2005.
Answer the following statement true (T) or false (F)
False
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Which of the following statements is true?
a. The national debt is the current year's amount by which the government is spending more than it collects as taxes. b. Deficits are financed by the government issuing for sale more government securities. c. The debt ceiling refers to the amount of debt at which the government is officially declared as being bankrupt. d. Internal national debt is the portion of the national debt owed to foreigners.
The gap between average total cost and average variable cost:
a. is constant at all ranges of output. b. is high at high levels of production. c. declines as output expands. d. depends on the production technology.
If a nonbinding price ceiling is imposed on a market, then the a. quantity sold in the market will decrease
b. quantity sold in the market will stay the same. c. price in the market will increase. d. price in the market will decrease.
Political instability is an obstacle to development in:
A. both market and socialist economies. B. neither market nor socialist economies. C. market economies. D. socialist economies.