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Consider the following annual transactions in Canada's current account.If Canadian exports of goods and services are $40 billion,imports of goods and services are $35 billion,transfers by Canadians to foreigners are $2 billion and transfers from foreigners to Canadian citizens are $1 billion,then the current account balance is
Risk-Averse
A condition where an individual prefers outcomes with known probabilities over outcomes with unknown probabilities, typically avoiding higher risk.
Total Utility
The cumulative satisfaction or pleasure derived by a consumer from consuming a given amount of goods or services.
Income Fall
A decrease in the amount of money received by an individual, household, or entity, typically referring to earnings over a certain period.
Risk Aversion
A preference for guaranteed outcomes over those with uncertainty, even if the uncertain outcome might offer a higher expected return.
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