Refer to the figure above. If the exchange rate is fixed above E yuan per dollar:
A) both the yuan and dollar are undervalued.
B) the dollar is overvalued and the yuan is undervalued.
C) both the yuan and dollar are overvalued.
D) the dollar is undervalued and the yuan is overvalued.
B
Economics
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A cartel usually has a collusive agreement to
A) restrict output. B) boost output. C) lower the price. D) increase the number of firms in the industry.
Economics
Peter's monthly income increases from $1,500 to $1,600. As a result, he increases the number of DVDs he buys per month from 2 to 3. Peter's demand for DVDs is
A) price elastic. B) price inelastic. C) income elastic. D) income inelastic.
Economics