The USAnd China (No

question 93

Multiple Choice

The U.S.and China (no.1 and no.2 global powers) continue to spar over sociocultural issues,such as human rights,and economic and financial issues,such as the value of the Chinese Yuan against the U.S.dollar.U.S.diplomats complain that these differences continue to bolster China's favorable balance of trade and increase the U.S.trade deficit.The trade protectionist policy exhibited by the Chinese is similar to an economic policy known as ____________ that was followed during the 17^th and 18^th centuries.This policy resulted in a flow of money to the country that sold the most globally.

• A) trade embargoing
• B) countertrading
• C) profiteering
• D) mercantilism

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Definitions:

Self-serving Bias

A common tendency to attribute one's successes to personal characteristics and failures to external factors.

Just-world Hypothesis

The cognitive bias that assumes that actions always yield morally fair and fitting consequences, essentially that the world is just.

Groupthink

A psychological phenomenon that occurs within a group of people when the desire for harmony or conformity in the group results in an irrational or dysfunctional decision-making outcome.

Symptoms

Signs or indications of a disease, disorder, or condition, often experienced by the individual affected.