Assume the United States has the following import/export volumes and prices. It undertakes a major devaluation of the dollar, say 26% on average against all major trading partner currencies. What is the pre-devaluation and post devaluation trade balance (T1, T2 and T3)? Initial (pre-devaluation) spot rate ($/foreign currency) 2.55 Price of exports ($) Price of imports, foreign currency, (fc) 23.50 19.00 Quantity of exports, units Quantity of imports, units 109.00 128.00 Price elasticity of demand, exports Price elasticity of demand, imports +0.85 -0.95 Assume the United States has the following import/export volumes and prices. It undertakes a major devaluation of the dollar, say 26% on average against all major trading partner currencies. What is the pre-devaluation and post devaluation trade balance (T1, T2 and T3)? Initial (pre-devaluation) spot rate ($/foreign currency) 2.55 Price of exports ($) Price of imports, foreign currency, (fc) 23.50 19.00 Quantity of exports, units Quantity of imports, units 109.00 128.00 Price elasticity of demand, exports Price elasticity of demand, imports +0.85 -0.95