The J-Curve Effect Implies That the Price Elasticity of Demand

question 66

True/False

The J-curve effect implies that the price elasticity of demand for imports and exports is more elastic in the short run than in the long run.

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Definitions:

Organism's Niche

The role or function of an organism or species within an ecosystem, including its habitat, resource use, and interaction with other species.

Coevolution

The process by which two or more species reciprocally affect each other's evolution through natural selection.

Convergent Evolution

The process by which unrelated or distantly related organisms evolve similar physical features independently, due to adaptation to similar environments or ecological niches.