What is the term for the difference between the value of a country's exportsand the value of its imports?A. Trade deficitB. Trade balanceC. Trade surplusD. Net exports

Option a) Trade deficit: This option is incorrect because it refers specifically to the situation…

Answered: What is the term for the difference…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Algebraically, the relationship between imports and income can be written as Select one: a. IM = m/Y b. Y = mIM C. IM = Y/m d. IM = mY
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Question: What is the term for a situation where a country exports more goods and services than it imports? A) Trade deficit B) Current account surplus C) Budget deficit D) Fiscal surplus

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What is the term for the difference between the value of a country's exports and the value of its imports? A. Trade deficit B. Trade balance C. Trade surplus D. Net exports