If the United States Is Running a Deficit Trade Balance

question 18

True/False

If the United States is running a deficit trade balance with China, then in a free market we would expect the value of the Chinese yuan to depreciate against the U.S.dollar.

---

Definitions:

Cultural Meanings

are the values, beliefs, and practices that are shared by a group of people, shaping their view of the world and influencing their behavior and traditions.

Group Identity

The sense of belonging and identification with a collective or category of people, shared based on common characteristics or interests.

Symbolic Interaction

A distinct conceptualization that investigates how individuals create, maintain, and change social realities through the meanings they ascribe to symbols and interactions.

Cultural Hegemony

The dominance of a culturally diverse society by the ruling class who manipulate the culture of that society—the beliefs, explanations, perceptions, and values—so that their imposed, ruling-class worldview becomes the accepted cultural norm.