Other things equal, a country's consumers' "demand for imports" schedule for a good Tends to be __________ than the country's consumers' overall demand schedule for the Good. In addition, other things equal, a country's producers' "supply of exports" Schedule of a good tends to be __________ than the country's producers' overall supply
Schedule of the good.

Question

Quizplus · Accepted Answer

The demand for imports tends to be more elastic because consumers can switch between domestic and foreign goods based on price changes. Similarly, the supply of exports is more elastic as producers can adjust their focus between domestic and international markets in response to price differences.

Other Things Equal, a Country's Consumers' "Demand for Imports" Schedule