A trade deficit involves:
a. net flows of goods from foreign countries to the domestic government.
b. net money flows from the foreign firms to the domestic government.
c. net money flows from the domestic firms to the domestic government.
d. net money flows from the foreign firms to the domestic firms.
e. net flows of goods from foreign countries to the domestic firms.
e
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Assume an economy is in equilibrium at a real GDP of $5 trillion. If aggregate expenditure (AE) increases by $1 trillion, the economy's equilibrium real GDP is likely to _____
a. increase by $1 trillion b. increase by more than $1 trillion c. increase by less than $1 trillion d. decrease by $1 trillion e. decrease by more than $1 trillion