A Few Minutes Before Class Starts, You Should

question 37

Multiple Choice

A few minutes before class starts, you should

• A) skim through the next assigned chapter in your textbook.
• B) review your notes from the last class.
• C) open to a blank page in your notebook and wait for class to begin.
• D) review the syllabus to see when the next test will be.

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Definitions:

Trade Balance

The variance between what a nation sells and buys from abroad in terms of goods and services.

National Saving

The total amount saved by a nation's households and businesses, plus government budget surplus, which can be used for investment.

Open-Economy Macroeconomic Model

A model that analyzes an economy that engages in international trade, considering the impact of exports, imports, and capital flows.

Tariffs

Tariffs are taxes imposed by a government on imported goods and services to protect domestic industries, raise revenue, or influence trade balance.