Regardless of whether you are looking through the microeconomics microscope or the macroeconomics telescope, the fundamental subject material of the interconnected __________ doesn’t change.

When income levels in the home nation increase, what is the effect on the home TB?

a. It decreases because of expenditure switching. b. It decreases because of an increase in imports. c. It increases because of an increase in exports. d. It increases because of expenditure switching.

When the expenditure schedule is too high, the result is a(n)

A. unemployment surplus. B. inflationary gap. C. recessionary gap. D. budgetary gap.