The open-economy macroeconomic model takes

a. gdp, but not the price level as given.
b. both the price level and gdp as given.
c. the price level, but not gdp as given.
d. the price level and gdp as variables to be determined by the model.

The correct answer is option b.

Explanation:

The open-economy macroeconomic model is used to determine the trade balance and exchange rate. This model assumes both GDP as well as the price to be given.  

The exchange rate is determined through the demand and supply of loanable funds. The supply of loanable funds in an open economy comes from national savings. The demand for loanable funds comes from domestic investment and capital outflow.

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.

answer; sensory adaptation;