Because of international time lags between ordering and the receipt of goods, a depreciation of a currency:
a. will not change import or export volumes for a time, since prices on orders already placed cannot be renegotiated.
b. will immediately change import and export volumes, because buyers and sellers always include an opt-out clause.
c. will affect import and export volumes in third countries not party to the particular transaction.
d. will never change import or export volumes.
Ans: a. will not change import or export volumes for a time, since prices on orders already placed cannot be renegotiated.
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