-In Equilibrium in the Above Private Open Economy

question 157

Multiple Choice

-In equilibrium in the above private open economy:

• A) imports exceed exports.
• B) net exports are a positive amount.
• C) a balance of payments surplus exists.
• D) exports exceed imports.

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Definitions:

Predominant Role

The most important or influential position in a particular context or scenario.

Subsistence

A mode of livelihood in which communities sustain themselves with minimal reliance on external trade, often by farming, fishing, or hunting.

Residence

A place where a person lives or has their home.

Residence Patterns

The societal norms and customs that dictate where individuals or groups live, often based on kinship, marital status, or gender roles.