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A Flexible Exchange Rate ________ the Impact of Terms of Trade

question 143

Multiple Choice

A flexible exchange rate ________ the impact of terms of trade shocks on output and employment because of the effect of a change in the exchange rate on ________.


Definitions:

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The ethos of the United States, representing the set of ideals (democracy, rights, liberty, opportunity, and equality) in which freedom includes the opportunity for prosperity and success.

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