A Small Open Economy Has Exports Equal to 10,imports Equal

question 26

Multiple Choice

A small open economy has exports equal to 10,imports equal to 7,and foreign debt service obligations of 4.I: The country has a current account deficit.II: The country is moving deeper into debt.

• A) I is true; II is not.
• B) II is true; I is not.
• C) Both I and II are true.
• D) Neither I nor II is true.

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