Asked by Yolanda Albino on Jul 03, 2024
Verified
When a country exports more goods and services than it imports,this is called
A) a balance of trade deficit.
B) a balance of trade surplus.
C) a positive terms of trade.
D) a negative terms of trade.
Balance of Trade Surplus
A situation where the value of a country's exports exceeds the value of its imports over a given period, indicating a positive balance of trade.
Exports
Goods or services produced in one country and sold to buyers in another, contributing to the selling country's national income.
Imports
Goods or services brought into one country from another for sale or use.
- Discern the economic effects of trade deficits and surpluses.
Verified Answer
NC
Nicholas CrolweyJul 07, 2024
Final Answer :
B
Explanation :
A balance of trade surplus occurs when a country exports more goods and services than it imports. This leads to an increase in foreign currency reserves and an improvement in the country's overall economic performance.
Learning Objectives
- Discern the economic effects of trade deficits and surpluses.