Explain the Difference Between Importing and Exporting

question 80

Essay

Explain the difference between importing and exporting.

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Definitions:

Fiscal Policy

Government policies related to taxation and spending that are used to influence economic conditions.

Aggregate Demand

The all-encompassing desire for goods and services within an economic framework, set against a particular uniform price level over a given interval.

Government Purchases

Expenditures by the government sector for goods and services that it intends to consume or invest in as part of its economic activities.

Stabilize Output

Involves government or central bank interventions to minimize fluctuations in a country's economic production or GDP over the business cycle.