During the First 6 Months of 2008, the European Union

question 100

Multiple Choice

During the first 6 months of 2008, the European Union (EU) initiated an anti-dumping case against China for imports of taper candles. What is dumping?

• A) when China sells its candles to the EU at a lower price than China's cost of production
• B) when China does not pay the tariff on the candles
• C) when China sells its candles to the EU at a lower price than other producers
• D) when China tries to sell more candles to the EU than is allowed by the import quota

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Definitions:

Life Expectancy

The average period that a person may expect to live.

Industrial Nations

Countries that are characterized by a significant level of industrialization, with a large portion of the economy dedicated to manufacturing and services.

Foreign Investment

The inflow of capital from external investors into a country to purchase assets such as property, stocks, or businesses.

Savings Rate

is the proportion of disposable income that households save rather than spend on consumption.