During the Chinese Experience with Pegging the Yuan to the Dollar,the

Multiple Choice

During the Chinese experience with pegging the yuan to the dollar,the yuan was undervalued.As a result

A) there was a surplus of yuan on the market that the Chinese government had to purchase to maintain the peg,depleting China's reserves of dollars.
B) there was a surplus of dollars on the market that the Chinese government had to purchase to maintain the peg.
C) the prices of Chinese exports were higher than they would have been without the peg.
D) the equilibrium value of the yuan was below the pegged value of the yuan.