Economics · Economics
The statement 'Devaluation of foreign exchange rate has a favorable effect on balance of payments when devaluation leads to balance of trade surplus. Devaluation will have an unfavorable effect on balance of payments when devaluation leads to balance of trade deficit, if the demand for a country's exports and imports is more than unity.' is attributed to whom?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Samuelson
- 2Marshall and Lerner
- 3Adam Smith and Mill
- 4Harberger and Laursen✓
Correct answer
Harberger and Laursen
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