Which One of the Following Situations Would Represent a "Small-Country

Multiple Choice

Which one of the following situations would represent a "small-country" case in the analysis of the elasticities approach to devaluation?

A) demand for exports curve has normal downward slope, supply curve of imports is Horizontal
B) supply curve of imports has normal upward slope, demand curve for exports is Horizontal
C) supply curve of imports is horizontal, demand curve for exports is vertical
D) demand curve for exports is horizontal, supply curve of imports is horizontal