Small open economy models are used to explain large economy models because
A) there are smaller populations to deal with.
B) they consume smaller amounts to goods and services.
C) they are not as complicated as large economy models.
D) they are relatively simple to work with.
E) they are more politically and economically stable.
Correct Answer:
Verified
Q12: If Q13: The steeper the PPF, Q14: Which of the following pairs of terms Q15: In an open,two-good economy in a two-good Q16: A current account surplus is defined as Q18: In a two-good economy,competitive equilibrium is Q19: The net effect on welfare from eliminating Q20: Comparative advantage is determined by the Q21: For Canada,the net effect in the terms Q22: In a two-good,two-period model,holding everything else constant,an
A) the more of
A)
A) minus
A) slope
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