Of the G-7 industrialized economies,the following nation has the lowest income elasticity of imports
A) The U.S.
B) German
C) Canada
D) Japan

Name: Of the G-7 industrialized economies,the following nation has the lowest income elasticity of imports A) The U.S. B) German C) Canada D) Japan
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Question

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Japan is known for having a lower income elasticity of imports due to its high level of domestic production and self-sufficiency in many sectors, leading to less reliance on imports as income changes.

Of the G-7 Industrialized Economies,the Following Nation Has the Lowest