Question: Why might a 10% devaluation of a country's currency fail to improve its balance of trade deficit?
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a.Other countries devalue their currencies by 15%
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b.Other countries revalue their currencies by 15%
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c.The demand for the country's imports is elastic
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d.The supply for the country's exports is elastic
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e.None of them
Answer: a
 Other countries devalue their currencies by 15% b) Other countries revalue their currencies by 15% c) The demand for the country's imports is elastic d) The supply for the country's exports is elastic e) None of them Ans. a) Other countries devalue their currencies by 15%
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