A nation has a favorable balance of trade when it has a surplus in its balance of payments. it has a deficit in its balance of payments. the value of its imports is greater than the value of its exports. merchandise exports exceed merchandise imports. it has high tariffs.

A nation has a favorable balance of trade when it has a surplus in its balance of payments. it has a deficit in its balance of payments. the value of its imports is greater than the value of its exports. merchandise exports exceed merchandise imports. it has high tariffs.

Macroeconomics: Principles and Policy (MindTap Course List)

13th Edition

ISBN:9781305280601

Author:William J. Baumol, Alan S. Blinder

Publisher:William J. Baumol, Alan S. Blinder

Chapter20: Exchange Rates And The Macroeconomy

Section: Chapter Questions

Problem 6DQ

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