Examlex
Explain why government budget deficits crowd out private investment spending in a closed economy, but crowd out net exports in a small open economy. Assume prices are flexible and that factors of production are fully employed in both economies. Assume there is perfect capital mobility for the small open economy.
Buick Owner's Demand
The specific preferences and buying patterns of individuals who own or are interested in purchasing Buick vehicles.
Gasoline
A volatile, flammable liquid derived from petroleum, used primarily as fuel in internal combustion engines.
Gas Pump
A gas pump is a machine at a filling station that is used to transfer gasoline from a reservoir to a vehicle's fuel tank.
Reservation Price
The maximum or minimum price at which a consumer is willing to buy or sell a good or service.
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