Chapter 12 Flashcards
1
Q
Trade Surplus
A
NX > 0
2
Q
Trade Deficit
A
NX < 0
3
Q
Balanced Trade
A
NX = 0
4
Q
National Income Identity in an Open Economy
A
Y = C + I + G + NX
5
Q
Domestic Spending
A
C + I + G
