Everything Else Equal,if a Country Has Exports of $12 Billion

question 133

Multiple Choice

Everything else equal,if a country has exports of $12 billion and imports of $10 billion,it follows that the country has a current account balance of ________ and a financial account balance of ________.

• A) $2 billion; $2 billion
• B) $2 billion; -$2 billion
• C) -$2 billion; -$2 billion
• D) -$2 billion; $2 billion

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Definitions:

Formal Operational

refers to the final stage in Piaget's cognitive development theory, where individuals develop the ability to think abstractly and logically.

Centration

A cognitive limitation in early childhood, where the focus is on one aspect of a situation while ignoring others.

Preoperational

A stage in Piaget's theory of cognitive development, occurring from ages 2 to 7, where children begin to engage in symbolic play and learn to manipulate symbols but do not yet understand concrete logic.

Cognitive Life

Term not well defined in psychology, possibly referring to the mental processes and activities of an individual.