NO.PZ201512020800000202
问题如下：
2. In Statement 2, McFadden is most likely failing to consider the:
选项：
A.initial gap between the country’s imports and exports.
B.price elasticity of export demand versus import demand.
C.lag in the response of import and export demand to price changes.
解释：
C is correct.
McFadden states that exchange rates will immediately correct the trade imbalance. She is describing the Flow Supply/Demand Channel, which assumes that trade imbalances will be corrected as the deficit country’s currency depreciates, causing its exports to become more competitive and its imports to become more expensive. Studies indicate that there can be long lags between exchange rate changes, changes in the prices of traded goods and changes in the trade balance. In the short-run, exchange rates tend to be more responsive to investment and financing decisions.
考点：current account influence
解析：随着赤字国家的货币贬值，贸易失衡将得到纠正，导致其出口变得更具竞争力，进口变得更加昂贵。研究表明，汇率变化、贸易商品价格变化和贸易差额变化之间可能存在较长时间的滞后。在短期内，汇率往往对投资和融资决策更敏感。
McFadden is most likely failing to consider the
