Examlex
If the rate of inflation overseas rises relative to the rate of inflation in the United States, U.S. net exports will tend to ____, causing the exchange value of the U.S. dollar to ____.
Price Elasticity
An assessment of the sensitivity of the demand for an item to shifts in its cost.
Strawberry Ice Cream
A frozen dessert made from dairy ingredients such as milk and cream, sweetened and flavored with strawberries.
Price-elastic
A characteristic of a good or service indicating a high sensitivity to changes in its price, where a small price change leads to a significant change in quantity demanded or supplied.
Price Elasticity
A measure of the sensitivity of quantity demanded or supplied to changes in price.
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