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Figure 1.4
Using the figure above, answer the following questions.
-What is the directional term for Label F?
Balance Of Trade
The difference between a country's exports and imports of goods and services, indicating whether a country has a trade surplus or deficit over a specific period.
Trade Deficit
A situation where the value of a country's imports exceeds the value of its exports.
Exports
Goods or services sold by a country to buyers in another country.
Imports
Products or services imported from foreign countries for the purpose of selling.
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