In the Basic Model of a Small Open Economy,if the Government

question 92

Multiple Choice

In the basic model of a small open economy,if the government adopts a policy that lowers imports,then the quantity of exports:

• A) remains unchanged.
• B) decreases but not as much as the quantity of imports decreases.
• C) decreases by exactly the same amount as the quantity of imports decreases.
• D) decreases by more than the quantity of imports decreases.

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Definitions:

Maslow's Hierarchy

is a psychological theory proposed by Abraham Maslow that ranks human needs in a pyramid, from basic physical needs to higher-level psychological needs and self-actualization.

Organization

Any group or aggregation of individuals into a purposeful entity, such as those found in business and industry, government, and the social community; also, the process of aligning people and resources to accomplish tasks (visions, goals, initiatives, and the like).

Recognition Needs

The requirement for acknowledgment and appreciation from others, often as a motivator in workplace settings.

Maslow's Hierarchy

A theory in psychology proposed by Abraham Maslow, which suggests that people are motivated by five basic categories of needs: physiological, safety, love/belonging, esteem, and self-actualization.