Net Exports Equal

question 59

Multiple Choice

Net exports equal:

• A) total exports plus total imports.
• B) total imports minus total exports.
• C) total exports minus total imports.
• D) total exports plus total imports, minus tariffs.

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Definitions:

Violates WARP

Refers to a situation where an individual's choice behavior contradicts the Weak Axiom of Revealed Preferences, suggesting inconsistency in their preferences.

Bundle

A combination of goods or services that are sold or consumed together.

Revealed Preferred

Another term for revealed preference, emphasizing the process of deducing preferences by observing actual choices under constraints.

Violates WARP

Deviating from the Weak Axiom of Revealed Preference, indicating inconsistencies in consumer choice under the assumption of rational behavior.