A Country's Exports Minus Its Imports Measures

question 72

Multiple Choice

A country's exports minus its imports measures:

• A) net exports.
• B) gross exports.
• C) net imports.
• D) gross imports.

Learn about social cognition and its relevance to linking cognition and social behavior.

Recognize the importance of perception in social psychology and its historical context.

Identify the significance of first impressions and models describing their formation.

Understand cognitive concepts like cognitive consistency, cognitive algebra, and their role in social psychology.

---

Definitions:

Marginal Utility

The augmented joy or usefulness a shopper obtains by buying an extra unit of a commodity or service.

Utility Maximization

The economic principle that individuals seek to allocate their resources in a way that maximizes their satisfaction or utility.

Consumption

The spending on goods and services by households or individuals.

Marginal Utility

The supplementary satisfaction or benefit obtained from using an additional unit of a product or service.