When the Total Value of a Nation's Exports Is Higher

question 26

Multiple Choice

When the total value of a nation's exports is higher than the total value of its imports, that country has a(n) _____.

• A) absolute advantage
• B) trade surplus
• C) trade deficit
• D) comparative advantage

---

Definitions:

Fixed Asset

A long-term tangible piece of property or equipment that a business uses in its operations to generate income.

Balance Sheet

A financial report that outlines a corporation's assets, liabilities, and owner's equity at a particular moment.

Interest Receivable

The amount of interest that has been earned but not yet received in cash.

Interest Revenue

Income earned by an entity through investments in interest-bearing financial instruments or accounts.