In an Open Economy

question 44

Multiple Choice

In an open economy:

• A) a trade deficit is always good.
• B) a trade deficit is always bad.
• C) a trade deficit may be good or bad.
• D) a trade surplus is always bad.

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Definitions:

Clerks

Office or administrative workers responsible for managing paperwork, keeping records, and undertaking general office tasks.

Status Set

The collection of social statuses that an individual occupies at a given time, reflecting their roles in various social structures.

Achieved Status

A status that depends on the capabilities and efforts of the individual.

Ascribed Status

A social position assigned to an individual at birth or involuntarily later in life, based on factors beyond their control, such as race, ethnicity, and family background.