In the language of international trade, "dumping" is the act of
A. producing goods without consideration of their environmental consequences.
B. selling goods cheaper than the competition.
C. selling goods below cost so as to drive competitors out of business.
D. selling goods of substandard quality.
Answer: C
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In the market depicted in the above figure, if a single-price monopoly maximizes its profit, which area shows the consumer surplus?
A) area GHIL B) area HIJ C) area HJKG D) area NFL
As in the United States, an important factor in the banking crises in Norway, Sweden, and Finland was the
A) financial liberalization that occurred in the 1980s. B) decline in real interest rates that occurred in the 1980s. C) high inflation that occurred in the 1980s. D) sluggish economic growth that occurred in the 1980s.