Question

Explain the significance of export promotion in correcting the situation of deflationary gap in the economy

Answer 1

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Explanation:

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Answer 2

Export promotion in deflationary gap

Explanation:

• Exports are demand from foreign countries for domestic products. Further exports are increasing aggregate demand. It can also reduce the deflationary gap by generating and growing export surplus when an economy suffers from deficient demand.
• Every effort should be made to encourage exports and discourage imports to generate more income and employment. For this, a part of its domestic product which is in demand abroad may be set apart by the country for export.