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quiz3summer2007 - Economics 302 Summer2007 Third Quiz Name...

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Economics 302 Name ________________________________________ Summer2007 Third Quiz* Student ID Number _____________________________ The following quiz is worth a total of 2.5 points. If your work is sloppy or illegible points will be subtracted. 1. (.25 points) When spending is greater than production during the current time period in a small, open economy then a. Exports for this country exceed imports for this country. b. Exports for this country are less than imports for this country. 2. (.25 points) When exports are less than imports for a small open economy during a particular period of time then a. This country is a net lender. b. This country is a net borrower. 3. (.25 points) A country is running a trade deficit if a. It is a net borrower in the world’s financial markets. b. It is a net lender in the world’s financial markets. 4. (.25 points) Net Exports are equal to a. Aggregate Output minus domestic spending. b.
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quiz3summer2007 - Economics 302 Summer2007 Third Quiz Name...

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