The Chinese Were Reluctant to Allow the Value of the Yuan

question 17

Multiple Choice

The Chinese were reluctant to allow the value of the yuan to rise against the United States (US) dollar because it would:

• A)decrease exports to the USA.
• B)increase the value of the large holdings of US dollars that China had accumulated.
• C)raise the price of imported goods from the USA.
• D)make Chinese exported goods less expensive in the USA.

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Definitions:

Common Resource

A resource like air or water that is non-excludable and rival in consumption, leading to potential overuse.

Fish In The Ocean

A term referring to the natural aquatic resources found in oceans, which can include various types of fish and sea life considered as potential food sources or ecological assets.

Private Goods

Goods that are rivalrous and excludable, meaning one person's consumption prevents another's.

Club Goods

Goods that are excludable but non-rival in consumption, meaning they can have restricted access but one person's use does not diminish availability to others.