Asked by sherab tsomo on Sep 24, 2024
Verified
If Chinese consumers want to buy US goods,they will
A) Buy Yuan and sell US Dollars
B) Sell Yuan and buy US Dollars
C) Neither buy nor sell Yuan
D) Neither buy nor sell dollars
Chinese Consumers
Individuals or groups in China engaging in the purchase of goods and services.
US Goods
Products and commodities that are manufactured or produced within the United States.
Buy Yuan
An action that involves purchasing the Chinese currency, also known as Renminbi, likely as an investment or to pay for goods and services in China.
- Recognize the impact of currency exchange rates on the purchasing power of consumers wanting to buy foreign goods.
Verified Answer
RN
Rachel Nickel5 days ago
Final Answer :
B
Explanation :
If Chinese consumers want to buy US goods, they need to pay in US dollars. Therefore, they will sell their yuan and buy US dollars to make the purchase.
Learning Objectives
- Recognize the impact of currency exchange rates on the purchasing power of consumers wanting to buy foreign goods.