If a Nation's Imports Exceed Its Exports

question 146

Multiple Choice

If a nation's imports exceed its exports:

• A)​net exports will be positive.
• B)​GDP will be less than the sum of consumption, investment, and government purchases.
• C)​GDP will be greater than the sum of consumption, investment, and government purchases.
• D)​none of the above apply.

---

Definitions:

Metaphorical Encasement

The concept of encapsulating complex ideas or phenomena within a metaphor to facilitate understanding or analysis.

Iron Cage

A concept introduced by Max Weber to describe the increased rationalization inherent in social life, particularly in Western capitalist societies.

Macroscopic Culture

A term referring to the wide-scale cultural patterns and institutions that shape societies as wholes, as opposed to localized, individual cultural practices.

Microscopic Individual

A term describing a closer, detailed focus on individual agents or small-scale phenomena, often used in contrast with macro-level analyses.