Multiple Choice
Developing countries that emphasize production in raw materials and agricultural goods may realize a long-run decline in their international terms of trade as the result of
A) an inelastic demand for these products in advanced countries.
B) a sizable decrease in the amount of these products supplied to the world market.
C) an increased demand for these products in advanced countries.
D) an elastic demand for these products in advanced countries.
Correct Answer:
Verified
Correct Answer:
Verified
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