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:

Linear Equations

Equations of the first degree, meaning they involve only first-degree variables (like x) and their coefficients, forming a straight line when graphed.

Interest Rates

The percentage at which interest is paid by borrowers for the use of money that they borrow from a lender.

Investments

The act of allocating resources, usually money, with the expectation of generating an income or profit.

Order

The arrangement or sequence of objects or events, or a principle of arrangement; in mathematics, it often refers to the degree of a polynomial or differential equation.