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Economics Mcqs
Q
Developing countries that emphasize the production of raw materials or agricultural goods may realize a long-run deterioration in the international terms of trade because of ?
AA. Relatively low import tariffs maintained by advanced countries
BB. Highly elastic demand for these products in advanced countries
CC. Declines in the supplies of these products on world markets
DD. Sluggish demand for these products in advanced countries
Correct Answer:
D. D. Sluggish demand for these products in advanced countries