If a Nation Produces Less Than It Spends What Do

question 105

Essay

If a nation produces less than it spends what do we know about:
A. its net exports?
B. its net capital outflow?
C. its saving in relation to its domestic investment?

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Definitions:

Concrete Operational

A stage in Piaget's theory of cognitive development, occurring from about 7 to 11 years old, where children gain the ability to think logically about concrete events.

Preoperational

The stage in Piaget's theory of cognitive development in which children from about 2 to 7 years old develop memory and imagination, but do not yet think logically.

Formal Operational Thought

A stage of cognitive development in which individuals are able to think abstractly, reason logically, and manage problems systematically.

Logical

Pertaining to the use of reason and sound judgment in thinking or arguing.