If the Dollar Buys Less Cotton in Egypt Than in the United

question 66

Multiple Choice

If the dollar buys less cotton in Egypt than in the United States,then traders could make a profit by

• A)buying cotton in the United States and selling it in Egypt,which would tend to raise the price of cotton in the United States.
• B)buying cotton in the United States and selling it in Egypt,which would tend to raise the price of cotton in Egypt.
• C)buying cotton in Egypt and selling it in the United States,which would tend to raise the price of cotton in Egypt.
• D)buying cotton in Egypt and selling it in the United States,which would tend to raise the price of cotton in the United States.

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Definitions:

Social Facts

Aspects of social life that exist outside of individuals, such as laws, norms, and values, that influence their behavior.

Social Conventions

Agreed-upon norms and practices that govern behavior within societies or groups.

Language

A system of spoken, written, or gestural symbols used by people to communicate thoughts, emotions, and information.

Dynamic Density

A concept introduced by Emile Durkheim referring to the frequency and intensity of interactions in a society, increasing with social evolution.