The Great Recession began in ________ and ended in ________

All the following nations except ________ have recently utilized export-led growth policies

A) Hong Kong B) South Korea C) Argentina D) Singapore E) Taiwan

Assume the government reduces government spending. What is the first round effect on the components of the balance of payments (assume low international capital mobility and fixed exchange rates; also assume that before the government action all the components were 0)? a. Current international transactions balance and reserves account become positive; net nonreserve international

borrowing/lending balance becomes negative. b. Current international transactions balance becomes positive; net nonreserve international borrowing/lending balance and reserves account become negative. c. Net nonreserve international borrowing/lending balance becomes positive; current international transactions balance and reserves account becomes negative. d. Net nonreserve international borrowing/lending balance and reserves account become positive; current international transactions balance becomes negative. e. Reserves account becomes positive; current international transactions balance and net nonreserve international borrowing/lending balance become negative.