For open economies,
A) S = I.
B) S = I + CA.
C) S = I - CA.
D) S > I + CA.
E) S < I + CA.
B
Economics
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Suppose the equilibrium price of a gallon of gasoline drops from $3.00 to $2.85 and the equilibrium quantity increases from 365 millions of gallons per week to 372 millions of gallons per week. These changes can be the result of
A) an increase in supply. B) an increase in demand. C) a decrease in supply. D) a decrease in demand.
Economics
The value of marginal product (VMP) of labor is the extra revenue generated by
A) selling one additional unit of output. B) raising the price of the good by one dollar. C) hiring one additional unit of labor. D) price discrimination.
Economics