What Equation Is the GDP Identity in an Open Economy

question 65

Multiple Choice

What equation is the GDP identity in an open economy?

• A) Y = C + I + G + NCO
• B) NX = - NCO
• C) NCO = S - I + NX
• D) Y = C + I + G - NX

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Definitions:

Behaviorism

A theory in psychology that focuses on observable behaviors and disregards unobservable mental processes.

Morals

Principles or beliefs concerning right and wrong behavior.

Rapport Talk

The language of conversation and a way of establishing connections and negotiating relationships; more characteristic of females than of males.

Self-Schema

A cognitive framework comprising beliefs and ideas about oneself that guides processing of self-relevant information.