In a Small Open Economy with a Floating Exchange Rate

question 57

Multiple Choice

In a small open economy with a floating exchange rate, if the government imposes a tariff on foreign goods, then in the new short-run equilibrium:

• A) imports will decrease while exports remain constant, leading to a rise in net exports.
• B) imports will decrease and exports will increase, leading to a rise in net exports.
• C) imports will decrease and exports will decrease by an equal amount.
• D) both imports and exports will remain unchanged.

Differentiate between types of coping mechanisms preferred by different age groups.

Appreciate the importance of continuous activity and engagement in contributing to successful aging.

Understand the process and importance of appraisal in coping with life challenges.

Recognize the changes in workforce participation among older adults and the factors influencing these trends.