We Will Generally Observe That the Less Open an Economy

question 5

Multiple Choice

We will generally observe that the less open an economy

• A)the larger the effect of fiscal policy on output and the larger the effect of fiscal policy on the trade position.
• B)the larger the effect of fiscal policy on output and the smaller the effect of fiscal policy on the trade position.
• C)the smaller the effect of fiscal policy on output and the larger the effect of fiscal policy on the trade position.
• D)the smaller the effect of fiscal policy on output and the smaller the effect of fiscal policy on the trade position.

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Definitions:

European Companies

Firms based in one of the countries in Europe, subject to the region's regulatory, economic, and market conditions.

General Journal

A comprehensive accounting record of all transactions made by a company, listed in chronological order before posting to accounts in the general ledger.

Appliance Repair Business

A business focused on fixing and maintaining home or commercial appliances.

Weekly Wage

The total amount of money paid to an employee on a weekly basis for services rendered.