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Page 1 ECONOMICS 3220 INTERMEDIATE MACROECONOMICS Homework 4: Ch 5 1. An “open” economy is one in which: A) the level of output is fixed. B) government spending exceeds revenues. C) the national interest rate equals the world interest rate. D) there is trade in goods and services with the rest of the world. 2. A country's exports may be written as equal to: 3. Net exports equal GDP minus domestic spending on: 4. If domestic spending exceeds output, we ______ the difference—net exports are ______. 5. The value of net exports is also the value of: A) net investment. B) net saving. C) national saving. D) the excess of national saving over domestic investment.
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