Developing countries that concentrate production in agricultural products or raw materials may face a long-run decline in their international terms of trade because of ?

A. inelastic demand for these products in advanced countries
B. large increases in the supplies of these products on world markets because of export expansion policies
C. sluggish demand for these products in advanced countries
D. All of the above

Correct Answer: All of the above ✔

Last Updated: June 18, 2019