In the Long Run, Both Exports and Imports Tend to Be

question 46

Multiple Choice

In the long run, both exports and imports tend to be

• A)unresponsive to changes in exchange rates.
• B)responsive to changes in exchange rates.
• C)both a and b
• D)none of the above

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Definitions:

Psychological Processes

Encompass the functions of the mind, including cognition, emotion, perception, and behavioral patterns, integral to understanding human behavior.

Nature

The inherent qualities or properties of something; often refers to the physical world and its phenomena not made by human beings.

Culture

An information-based system that includes shared ideas and common ways of doing things.

Survival of the Fittest

A concept from evolutionary theory suggesting that organisms best adapted to their environment are more likely to survive and reproduce.