In a Small Open Economy, If Exports Equal $5 Billion

question 52

Multiple Choice

In a small open economy, if exports equal $5 billion and imports equal $7 billion, then there is a trade and
Net capital outflow.

• A)deficit; negative
• B)surplus; negative
• C)deficit; positive
• D)surplus; positive

---

Definitions:

Traits

Characteristic features or qualities distinguishing a person or thing, often inherited in the context of genetics.

Fixations

In psychoanalytic theory, a persistent focus of the id’s pleasure-seeking energies at an earlier stage of psychosexual development.

Creative Selves

The aspects of an individual's personality that involve creativity, imagination, and the ability to generate new ideas.

Objective Tests

Tests whose items must be answered in a specified, limited manner; tests whose items have concrete answers that are considered correct.