Under pressure from Japan, the United States, and Europe, China announced it switched from pegging the yuan against the dollar to linking the value of the yuan to a 'basket' of currencies. The result of this change was
A) the value of the yuan increased slightly relative to the dollar.
B) the value of the yuan has increased dramatically and is beginning to remove the trade imbalance between the United States and China.
C) the value of the yuan has become very responsive to changes in demand and supply in the foreign currency market.
D) the value of the yuan has decreased dramatically and has further spurred Chinese exports.
A
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Cartels provide uniform management, but none of the advantages of economies of scale
a. True b. False Indicate whether the statement is true or false
A monopolistically competitive firm is currently earning a positive economic profit. If other firms enter the market, we would expect that the added competition will cause this firm to adjust its output such that it
a. will operate closer to its efficient scale. b. will operate further from its efficient scale. c. will no longer be at its efficient scale. d. might move either closer to or further from its efficient scale.