Chapter 30 - Government Expenditure And Net Trade Flashcards
1
Q
Fiscal deficit
A
When government spending is greater than earnings
2
Q
Fiscal surplus
A
When government spending is less than revenue
3
Q
Fiscal policy
A
The decisions about government spendings
4
Q
net trade balance
A
Exports minus imports
5
Q
Non-price factors
A
factors other than price that affect demand
6
Q
Factors influencing the net trade balance
A
price, rate of economic growth, the exchange rate, state of the world economy, degree of protectionism, non price factors
