Suppose a country's net exports equal 0. If the volume of exports increases without any change in the volume of imports, the country will experience a ________
A) budget surplus B) budget deficit C) trade deficit D) trade surplus
D
Economics
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When the economy is producing its potential output, an increase in government spending must necessarily reduce some component of private spending. This phenomenon is called
A) the multiplier effect. B) entitlement spending. C) fiscal policy. D) crowding out.
Economics
If a player has a strategy where one course of action under-performs all others no matter what other players do, that strategy is
A) a prisoner's dilemma. B) dominated. C) dominant. D) a loser.
Economics