Multiple Choice
Suppose that country I's income elasticity of demand for imports is 0.8 and that country II's income elasticity of demand for imports is 1.5. These income elasticities indicate that growth in country I would be classified as __________ and that growth in country II Would __________.
A) "antitrade" growth; also be classified as "antitrade" growth
B) "antitrade" growth; be classified as either "protrade" growth or "ultra-protrade"Growth
C) either "protrade" growth or "ultra-protrade" growth; be classified as "antitrade"Growth
D) either "protrade" growth or "ultra-protrade" growth; also be classified as either"protrade" or "ultra-protrade" growth
Correct Answer:
Verified
Correct Answer:
Verified
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