Prices in both the U.S. and China rise, but prices in China increase by a larger percentage. According to purchasing-power parity, the U.S. dollar
a. gains value both in terms of the domestic goods and services it can buy and in terms of the Chinese currency it can buy.
b. gains value in terms of the domestic goods and services it can buy, but loses value in terms of the Chinese currency it can buy.
c. loses value in terms of the domestic goods and services it can buy, but gains value in terms of the Chinese currency it can buy.
d. loses value both in terms of the domestic goods and services it can buy and in terms of the Chinese currency it can buy.
c
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The second federal antitrust law was passed in 1914. This antitrust law is the
A) Clayton Act. B) Robinson-Patman Amendment. C) Cellar-Kefauver Amendment. D) Taft-Hartley Act.
_____ refers to the changes in government spending and taxation that are aimed at achieving a policy goal
a. Discretionary monetary policy b. Discretionary fiscal policy c. Discretionary foreign trade policy d. Discretionary exchange rate policy e. Discretionary interest rate policy
Assume there is a price floor imposed on a good which is above the equilibrium price. Which of the following changes would reduce the size of the surplus?
a. An increase in demand. b. A decrease in demand. c. An increase in supply. d. Any of the above.
If Peter produces 3 times as much per hour as Julia, we would say that he is ______ times as productive as she is.
Fill in the blank(s) with the appropriate word(s).