During the Chinese Experience with Pegging the Yuan to the US

question 198

Multiple Choice

During the Chinese experience with pegging the yuan to the US dollar,the yuan was ________.As a result,there was a ________ of US dollars on the market and the Chinese government had to purchase US dollars to maintain the peg.

• A) overvalued; shortage
• B) undervalued; surplus
• C) overvalued; surplus
• D) undervalued; shortage

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Definitions:

Profit a Prendre

A right granted to an individual to take resources, such as minerals, fish, or timber, from the land of another.

Dominant Tenement

In property law, the estate that benefits from an easement that burdens a neighboring estate (the servient tenement).

Estate in Land

A legal interest or right in a property, determining the duration and nature of ownership.

Fee Simple

A legal term referring to the most extensive ownership interest in land that one can possess, which is unlimited in duration, inheritable, and not subject to any restrictions.