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  • In the absence of___________, the economy would have to produce what it consumed, and vice versa. #141
  • Every change in a nation’s economy, including technological progress, shifting consumer preferences, exhaustion of old resources and discovery of new ones, and so on, affects income___________. #142
  • It is always better to allow trade and compensate those who are hurt by it than to ___________ the trade #143
  • The year of birth of the modern neoclassical theory of Economic Growth is #144
  • Movement to foreign will reduce the Home labor force and thus raise the real wage in Home, while increasing the labor force and reducing the real wage in ______________ #145
  • The surplus or deficit resulting from the sum of the balance on goods and the balance on services is known as the _____________. #146
  • The ultimate result of the collection of trade figures is a net total known as __________________. #147
  • The objective for trade balances objective is to achieve ____________ or sufficient surpluses to pay off a country’s debts #148
  • A country whose balance of payments shows consistent deficits is said to be in ‘______________. #149
  • A country with a ____________ in its balance of payments is said to be a ‘creditor nation’. #150
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