Question
The Mundell–Fleming trilemma illustrates the trade-offs faced by idealized countries described this term. For 10 points each:
[10h] Give this three-word term that describes certain countries, depending on their total output and level of trade, whose interest rates are determined entirely by international capital markets.
ANSWER: small open economies [or SOE, reject partial answers]
[10e] Policymakers within small open economies may intentionally lower this value to increase exports in a policy known as depreciation. This value is the proportion at which one currency can be converted into another.
ANSWER: exchange rate
[10m] Because small open economies are price-takers of interest rates, their assets face this sort of demand. This demand curve is represented by a horizontal line on a supply-and-demand graph.
ANSWER: perfectly elastic demand [or infinitely elastic demand; prompt on elastic demand]
<Social Science>
Summary
| 2024 ACF Winter at Clemson | 2024-11-16 | Y | 1 | 20.00 | 100% | 100% | 0% |
| 2024 ACF Winter at Lehigh | 2024-11-16 | Y | 6 | 15.00 | 100% | 50% | 0% |
| 2024 ACF Winter at Northwestern | 2024-11-16 | Y | 9 | 14.44 | 100% | 44% | 0% |
| 2024 ACF Winter at Ohio State | 2024-11-16 | Y | 7 | 11.43 | 100% | 14% | 0% |
| 2024 ACF Winter at Online | 2024-11-16 | Y | 8 | 10.00 | 88% | 13% | 0% |
| 2024 ACF Winter at UBC | 2024-11-16 | Y | 3 | 13.33 | 100% | 33% | 0% |
| 2024 ACF Winter at Central Florida | 2024-11-16 | Y | 5 | 12.00 | 100% | 20% | 0% |
| 2024 ACF Winter at Brandeis | 2024-11-16 | Y | 8 | 15.00 | 100% | 50% | 0% |