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:

New World

A term used historically by Europeans to refer to the Americas, discovered by Europeans in the late 15th century, contrasting with the Old World of Europe, Asia, and Africa.

Caribbean Planters

Landowners and agricultural entrepreneurs in the Caribbean who owned plantations, primarily for sugar cultivation, during the colonial period.

Punishing

The action of enforcing a punishment or corrective measure on an individual in response to a committed fault or crime.

Slavery in Brazil

The historical period during which African slaves were forcibly brought to Brazil, playing a crucial role in the country's economic development, particularly in the sugar and coffee plantations, until its abolition in 1888.