Label each of the following statements true, false, or uncertain. Explain briefly.

a. The reduction in the current account deficit in Greece from 2008 to 2018 means that citizens in Greece are better off.

b. The national income identity implies that budget deficits cause trade deficits.

c. Opening the economy to trade tends to increase the multiplier because an increase in expenditure leads to more exports.

d. If the trade deficit is equal to zero, then the domestic demand for goods and the demand for domestic goods are equal.

e. A small open economy can reduce its trade deficit through fiscal contraction at a smaller cost in output than can a large open economy.

f. A decline in real income can lead to a decline in imports and thus a trade surplus.

g. In joining the Euro, Greece made real exchange rate adjustments with its trading partners easier.