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If speculators expect a rising exchange to reverse itself we say that expectation is inelastic and speculation stabilizing. In the reverse case we have elastic
If speculators expect a rising exchange to reverse itself we say that expectation is inelastic and speculation stabilizing. In the reverse case we have elastic exceptions and destabilizing speculation. Why?
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Microeconomics An Intuitive Approach with Calculus
Authors: Thomas Nechyba
1st edition
538453257, 978-0538453257
