In a Small Open Economy, If Exports Equal $15 Billion

question 89

Multiple Choice

In a small open economy, if exports equal $15 billion and imports equal $8 billion, then there is a trade ______ and ______ net capital outflow.

• A) deficit; negative
• B) surplus; negative
• C) deficit; positive
• D) surplus; positive

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Definitions:

Personality Styles

pertains to the various categories or types that summarize the patterns of behavior, thought, and emotion uniquely exhibited by individuals.

Team Effectiveness

The degree to which a team is able to meet its objectives and achieve its goals successfully.

Knowledge And Skill

The combination of theoretical understanding, practical ability, and proficiency acquired through experience or education.

Positive Illusion Bias

The tendency to perceive ourselves, our abilities, and our future prospects in an overly favorable manner.