Which of the Following Is the Elasticity Approach Not Able

question 9

Multiple Choice

Which of the following is the elasticity approach not able to explain?

• A)The large volatility of exchange rates over the past three decades
• B)The sharp appreciation of the dollar from 1995 to 2002
• C)The failure of the US trade deficits to decline when the dollar depreciated sharply from 1985 to 1988
• D)All of the above

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Definitions:

Maslow's Hierarchy

A theory proposed by Abraham Maslow outlining a hierarchy of human needs, from basic physiological needs to self-actualization, suggesting that higher needs become motivational only after lower needs are satisfied.

Higher Needs

Advanced psychological needs such as self-actualization and esteem needs, following basic physiological and safety needs in Maslow's hierarchy.

Lower Needs

Basic physiological and safety requirements in Maslow's hierarchy, essential for an individual's survival.

Humanistic Psychology

A psychological perspective that emphasizes the study of the whole person, and the uniqueness of each individual's experience, focusing on personal growth and the concept of self-actualization.