A Trade Deficit Occurs When

question 141

Multiple Choice

A trade deficit occurs when:

• A) foreign remittances paid are less than foreign remittances received.
• B) exports are less than imports.
• C) exports equal imports.
• D) exports are greater than imports.

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Definitions:

Formal Agreement

A legally binding contract or document that explicitly outlines the terms and conditions agreed upon by the parties.

Age of Majority

The legally defined age at which an individual is considered an adult and capable of making legal decisions on their own behalf.

Ratification

The process by which an agreement or decision is officially confirmed or approved.

Written Form

The requirement or preference for information, agreements, or documentation to be expressed and recorded in writing, often for legal, formal, or practical reasons.