Achieve for Economics (1-Term Online)
Achieve for Economics (1-Term Online)
5th Edition
ISBN: 9781319372040
Author: KRUGMAN, Paul
Publisher: Macmillan Higher Education
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Chapter 21, Problem 12P
To determine

Which of the given statements are valid possible explanations in the given situation.

Concept Introduction:

Trade deficit: This situation occurs when the balance of trade is negative and the imports of a country are more than the exports of that country.

Trade surplus: This situation occurs when the balance of trade is positive and the exports of a country are more than the imports of that country.

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