Suppose that Montenegro, a "small country", experiences growth strongly biased toward its export,

cloth. How will Montenegro$$s welfare be affected ($($i.$.$e,$,$ increased, decreased, unaffected, ambiguous)$)$in

terms of the parameters listed below??

($($i)$)$ Montenegro$$ s terms of trade is unaffected

($($ii)$)$ Montenegro$$s isovalue line shifts outwards

($($iii)$)$Montenegro$$s of terms of trade improves

($($iv)$)$ Montenegro$$s terms of trade worsens

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