The Open-Economy Macroeconomic Processes for Correcting Balance-Of-Payments Disequilibria Are Collectively

question 33

Multiple Choice

The open-economy macroeconomic processes for correcting balance-of-payments disequilibria are collectively called :

• A)discretionary fiscal policy
• B)foreign exchange market
• C)monetary policy
• D)adjustment in the balance of payments

---

Definitions:

Obedience

The act of following orders or directions from an authority figure, often studied in psychology as a behavioural trait.

Conformity

The act of aligning one's beliefs, attitudes, and behaviors with those of a group or societal norms.

Status

pertains to the relative social, professional, or other standing of someone or something.

Groupthink

A psychological phenomenon within a group of people, where the desire for harmony or conformity results in an irrational or dysfunctional decision-making outcome.