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Use the following to answer questions :
Exhibit: Saving and Investment in a Small Open Economy Use the following to answer questions : Exhibit: Saving and Investment in a Small Open Economy   -(Exhibit: Saving and Investment in a Small Open Economy)  In a small open economy, if the world interest rate is r<sub>3</sub>, then the economy has: A)  a trade surplus. B)  balanced trade. C)  a trade deficit. D)  positive capital outflows.
-(Exhibit: Saving and Investment in a Small Open Economy) In a small open economy, if the world interest rate is r3, then the economy has:

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Definitions:

Contract Term

A specific provision or condition outlined within a contract that dictates the obligations, rights, or restrictions for the parties involved.

Prohibiting Assignment

A clause within a contract that restricts or entirely prevents one party from transferring their rights or obligations under the contract to another party.

Delegation Of Duties

The assignment of responsibility or authority from one person to another person to carry out specific activities.

Detrimental Reliance

The situation where an individual suffers a loss as a result of relying on a promise or statement made by another, which was later retracted or proved false.

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