Suppose a Country Devalues Its Currency

question 86

Multiple Choice

Suppose a country devalues its currency.If the country's demand for imports is ______,the price increase resulting from the devaluation results in a relatively small decrease in the volume of imports,causing to total import expenditures to increase.

• A) perfectly elastic
• B) relatively elastic
• C) unit elastic
• D) relatively inelastic

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Definitions:

Polymorphism

A concept in object-oriented programming that allows methods to do different things based on the object that it is acting upon, supporting methods with the same name but different implementations.

Late Binding

A programming concept where method calls are resolved at runtime, allowing for more dynamic and flexible code.

Final Modifier

The final modifier in Java is a keyword used to declare a variable as unchangeable after its initial assignment, a method that cannot be overridden, or a class that cannot be subclassed.

Derived Class

A class in object-oriented programming that inherits properties and behavior from another class, known as the base class.