When a Nation's Nation's Imports Exceed Its Exports, It Incurs

question 239

Multiple Choice

When a nation's nation's imports exceed its exports, it incurs a ________ in its balance of trade.

• A) countertrade
• B) trade feedback effect
• C) deficit
• D) surplus
• E) tariff

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Definitions:

Nonprogrammed Decisions

Decisions that are made in response to unique, non-routine, and unpredictable circumstances, requiring creativity and critical thinking.

Information Deficiencies

Situations where there is a lack of necessary, relevant, or accurate information for decision-making or problem-solving.

Certain Environment

An environment that offers complete information on possible action alternatives and their consequences.

Probabilities

The measure of the likelihood that an event will occur, expressed as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.