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In a small open economy, starting from a position of balanced trade, if the government increases the income tax, this produces a tendency toward a trade ______ and ______ net capital outflow.
Existential Import
The implication that a statement makes about the existence of the subjects it mentions.
Modern Assumptions
Contemporary beliefs or presuppositions that influence one's perspective or argument, often taken for granted within a specific time period.
Traditional Assumptions
Established beliefs that are widely accepted without question or evidence.
Middle Term
In a syllogism, the term that appears in both premises but not in the conclusion, serving as a link between the other two terms.
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