Define X = exports, M = imports, S = saving, I = investment, T = net taxes, G = government expenditure. Which of the following formulas is correct?
A) X - M = S - I - T - G
B) X - M = S - I + T - G
C) X - M = S + I + T - G
D) X - M = S + I -T + G
E) X - M = S + I +T + G
B
Economics
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A free market is a market:
A) that has price controls imposed by a ruling authority. B) where almost all exchanges take place involuntarily. C) where determination of equilibrium quantity is free from the forces of demand and supply. D) that operates with little or no government control.
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Which of the following is FALSE about services trade for India and China?
A) China exports more services than India does. B) India has a trade surplus in services. C) China has a trade surplus in services. D) India trades primarily information services and other business services.
Economics