An Important Result in the Small Open Economy Is That

question 57

Multiple Choice

An important result in the small open economy is that the representative consumer will always be better off

• A) by consuming more of everything.
• B) by importing more than exporting.
• C) by being employed rather than unemployed.
• D) if inflation is stable.
• E) with trade than without it.

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Definitions:

2,3-Dimethylbutane

A branched chain alkane with the formula C6H14, having methyl groups at the second and third carbon atoms of the butane chain.

Compound Name

The official identification of a chemical substance based on its structural elements and molecular composition.

Heat of Combustion

The amount of heat released when a substance completely burns in oxygen, a measure of the energy content of a fuel.

Cycloalkanes

Saturated, ring-shaped hydrocarbons with the general formula CnH2n, where n is the number of carbon atoms in the ring.