International trade shocks
A. are of greater concern to large industrialized countries than to developing countries that rely on exporting a few primary commodities.
B. can be avoided by moderate use of tariffs and non-tariff barriers.
C. include changes in a country's total exports that result from changes in foreign consumer tastes.
D. have no impact on the countries under fixed exchange-rate regimes.
Answer: C
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Everything else held constant, if aggregate output is to the right of the LM curve, then there is an excess ________ of money which will cause the interest rate to ________
A) supply; fall B) supply; rise C) demand; fall D) demand; rise
Daniel was just laid off from his teaching job at the local high school due to state budget cuts resulting from the reduction in tax revenue during the recent economic downturn. Daniel would best be categorized as
A) frictionally unemployed. B) structurally unemployed. C) cyclically unemployed. D) seasonally unemployed.