A small, one-unit change in value is called a marginal change

Assuming the Marshall-Lerner condition holds and using the ZZ/Y and NX graphs, illustrate graphically and explain what effect a real depreciation will have on output, exports, imports, and net exports. Clearly label all curves and clearly label the initial and final equilibria

What will be an ideal response?

The poverty line:

a. separates those on welfare from those not on welfare. b. equals three times an economy food budget. c. equals the median income level. d. all of these.