Trade Balance Is

question 36

Multiple Choice

Trade balance is

• A) the sum of a nation's total exports and total imports.
• B) the difference between a nation's total exports and total imports.
• C) when a nation exports more than it imports.
• D) when a nation imports more than it exports.
• E) when a nation no longer feels it has the need for trade partners.

---

Definitions:

Innocent Misrepresentation

A misrepresentation made without fault or knowledge of its falsity, which may allow the misled party to void the contract but not claim damages.

Intentionally Deceptive

Deliberately misleading actions or statements designed to make someone believe something that is not true.

Ratification

The action of officially approving or confirming a previous act or decision, which was made without authorization or was otherwise questionable, to make it legally valid.

Voidable Contract

A contract that remains valid until one party, who is entitled to do so because of a defect in the contract formation, chooses to void it.