Chapter28: International Trade And Finance
Section: Chapter Questions
Problem 20SQ
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Question
Inflation-adjusted world commodity prices have been fairly stable over the past several decades. This is because:
A) Falling demand from population growth and economic development is balanced by cheaper/better extraction technology.
B) The world has been using fewer commodities.
C) We do not know. This is what economists call the "productivity puzzle."
D) Growing demand from population growth and economic development is balanced by cheaper/better extraction technology.
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