What Will Be the Effect of an Increase in Fiscal

question 102

Essay

What will be the effect of an increase in fiscal expansion abroad by a large economy on the trade balance of a small open economy?

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Definitions:

Cross-training

A strategy where employees are trained in multiple skills or job functions to increase versatility and flexibility within the workforce.

Improve Flexibility

Refers to the ability of a system or operation to adapt to changes or variations in conditions, demand, or the environment.

Total Production Streamlining

An approach aimed at enhancing manufacturing efficiency by systematically reducing waste and improving production processes.

Customer Demand

The quantity of a product or service that consumers are willing and able to purchase at various prices over a given period of time.