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Identify and explain the three stages of the J-curve adjustment path of the trade balance adjustment process.
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- Define the term TRADE DEFICITGraphically, when is the balance of trade equal to zero? Multiple Choice When the rising IM line intersects the horizontal X line. When the rising X line intersects the horizontal IM line. When the rising IM line intersects the horizontal axis. When the rising X line intersects the horizontal axis.Define the term balance of trade.
- Which of the following will result in a surplus in the BOP? Select one: a. Capital Outflows greater than inflows b. Higher exchange rates c. Reduced trade barriers d. Lower inflation levels e. Imports exceed exportsThe term “Balance of Trade” incorporates the measure of which of the following?Choose one answer.a. Imports b. Exports c. Currency d. Both A and BWould it be accurate to think of a fixed exchange rate as a simultaneous price ceiling and price floor?
- EXPLAIN IN DETAIL GENERAL ASPECTS OF BALANCE OF TRADE.Derive and explain the Marshall-Lerner condition. If the Marshall-Lerner condition does not hold, explain and show graphically the dynamics of the trade balance in response to a real appreciation. (100 words max)The term “Balance of Trade” incorporates the measure of which of the following?Choose one answer. Imports Exports Currency Both A and B
- Our balance trade has, in most cases been unfavorable. What could be the causes of this situation?Despite the benefits of a Balance of Payments Surplus, countries do not strive to achieve it persistently. Explain whether there is any justification for this.Derive graphically the aggregate demand curve under fixed exchange rates and explain the transmission mechanism from a price change to an output change.