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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Explain briefly whether each of the following would be more likely to lead to a higher level of trade for an economy, or a greater imbalance of trade for an economy.

a. Living In an especially large country

b. Having a domestic investment rate much higher than the domestic savings rate

c. Having many other large economies geographically nearby

d. Having an especially large budget deficit

e. Having countries with a tradition of strong protectionist legislation shutting out imports

A

To determine

Whether living in a large country would lead to a higher level of trade or a greater imbalance of trade for an economy.

Explanation

Trade imbalance will not affect large economies as large economies can do trade internally...

B

To determine

Whether having a domestic investment rate much higher than domestic savings rate would lead to a higher level of trade or a greater imbalance of trade for an economy.

C

To determine

Whether having many other large economies geographically nearby would lead to a higher level of trade or a greater imbalance of trade for an economy is to be determined.

D

To determine

Whether having an especially large budget deficit would lead to a higher level of trade or a greater imbalance of trade for an economy is to be determined.

E

To determine

Whether having countries with a tradition of strong protectionist legislation shutting out imports would lead to a higher level of trade or a greater imbalance of trade for an economy is to be determined.

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