A nation's trade deficit will tend to shrink when its
a. economy is expanding.
b. economy is shrinking.
c. investment environment is attractive to foreigners.
d. economy is growing at a normal rate.
B
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The self-correcting property of the economy means that output gaps are eventually eliminated by:
A. increasing or decreasing potential output. B. government policy. C. decreasing inflation only. D. increasing or decreasing inflation.
In theory, any object ________ could play the role of fiat money
A) in unlimited supply B) for which demand is limited C) in limited supply D) that has an unlimited demand
Testing a theory by comparing the theory's implications with data obtained in the real world is called
A) empirical analysis. B) descriptive calibration. C) historical variance analysis. D) univariate analysis.
The supply of loanable funds comes from anyone who has saved money and wants to lend it out
a. True b. False Indicate whether the statement is true or false