The fall in the U.S. dollar has not affected Chinese trade as much as that for other countries because:
a. China has appreciated its currency.
b. China has reduced its exports.
c. China has depreciated its currency.
d. China has pegged its currency to the dollar.
Ans: d. China has pegged its currency to the dollar.
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In the economic way of thinking, individuals make "choices" only when they
A) follow their narrow, selfish interests. B) enjoy perfect and complete information about the consequences of their actions. C) act responsibly. D) pursue one project while sacrificing another. E) have mastered the lessons of economic theory.
Which of the following would contribute to a U.S. balance of payments surplus?
A. The United States makes a unilateral tariff reduction on imported goods. B. General Motors pays a dividend to a Swiss stockholder. C. The United States cuts back on U.S. military personnel stationed in Germany. D. Russian vodka becomes increasingly popular in the United States.