If 100% of individuals in a group are required to agree before an action can take place then _____
a. external costs will be high
b. we cannot determine the level of external costs without additional information
c. external costs will be zero
d. external costs will be low
c
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Although the pegged exchange rate between the yuan and the U.S. dollar has undervalued the yuan, China has been reluctant to abandon the peg for fear that abandoning the peg would
A) increase exports and increase the current account deficit. B) reduce capital inflows. C) reduce exports and reduce economic growth. D) increase Chinese holdings of dollars.
In the New Keynesian open economy model
A) the nominal exchange rate is always fixed. B) prices are flexible. C) net exports depends on the relative price of foreign goods to domestic goods. D) the nominal exchange rate is always flexible.