The longer the time period considered, the price elasticity of demand tends to:
a. decrease

To prevent nations with an inflation bias from entering the Eurozone, the Maastricht criteria for accession include:

A) a trial period of joining the Eurozone to see how they fare. B) a three-month period of low interest rates. C) a lengthy trial period of demonstrated commitment to low inflation before joining. D) promises and written commitments to low deficits and debt reduction on entering.

One obstacle to the adoption of the export promotion model by countries in other regions is that

A) the Uruguay Round of the GATT forbids many types of export promotion policies. B) research and development for new exports is too expensive. C) only noncommercial R&D is permitted under the rules of the GATT. D) industrial monopolies in the high-income countries will block further exports by developing countries.