A trade surplus indicates a higher level of imports than exports.

Trade Surplus

Occurs when a country has a higher level of exports than imports.

Imports

Goods or services brought into one country from another for sale or use.

Exports

Goods or services produced in one country and sold to buyers in other countries, contributing to a nation's economy and corporate revenue.

Evaluate the effects of tariffs, quotas, and trade balances on international trade and production location decisions.

Verified Answer

Final Answer :

False

Explanation :

A trade surplus indicates a higher level of exports than imports.

Learning Objectives

Evaluate the effects of tariffs, quotas, and trade balances on international trade and production location decisions.