Dumping is
a. the sale of a good by a foreign supplier in another country at a price below that charged by the supplier in its home market.
b. an inappropriate method for getting rid of byproducts from a production process.
c. a method to increase competitiveness in a market.
d. all of the above.
e. both a and c above.
A
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The real exchange rate is an adjustment of the nominal exchange rate to account for
a. inflation at home and abroad b. supply and demand in the market c. government's assessment of its value d. currency amounts held by governments e. none of the above
Suppose an apartment complex converts to a condominium, so that the former renters are now owners of their housing units. Suppose further that a current estimate of the value of the condominium owners' housing services is the same as the rent they previously paid. What happens to GDP as a result of this conversion?
a. GDP necessarily increases. b. GDP necessarily decreases. c. GDP is unaffected because neither the rent nor the estimate of the value owner-occupied housing services is included in GDP. d. GDP is unaffected because previously the rent payments were included in GDP and now the rent payments are replaced in GDP by the estimate of the value of owner occupied housing services.