Which of the following was NOT one of the causes of the Asian financial crises of 1997 and 1998?
A) A current account deficit and financial account surpluses
B) The use of exports as an engine of economic growth by the countries involved
C) China's 1994 devaluation of its fixed exchange rate
D) The appreciation of the U.S. dollar and depreciation of the Japanese yen
Question 2
If trade in a particular good interindustry, the expansion of an industry in one country is likely to lead to the ________ of that industry in the other country. If trade in that good is intraindustry, expansion of the industry in one country is likely to lead to the ________ in the other country.
A) decline, decline
B) decline, expansion
C) expansion, decline
D) expansion, expansion
Asian elephant
Apparatus Used by Skaggs and McNaughton (1998)
The Economics of Money, Banking and Financial Markets, Business School Edition
Financial Management: Core Concepts