ECON 3860 Midterm Review.docx - ECON 3860 Midterm Review...

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ECON 3860 Midterm Review Chapter 13 Q.1 Explain three ways to understand the current account i )- Current Account = Exports – Imports
Q.2 Explain how the relationship between national saving, the current account, and investment in an open economy. How does it differ in a closed economy?
Q.3 Using the US BOP system as an example, explain the four accounts and the categories under each account.

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