When a Country's Exports Exceed Its Imports,the Nation Has a ________

question 4

Multiple Choice

When a country's exports exceed its imports,the nation has a ________.

• A) trade surplus
• B) trade deficit
• C) negative balance of trade
• D) A and C

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Definitions:

Dependent Variable

A variable that responds to some causal factor; total cost is the dependent variable, as represented by the letter Y, in the equation Y = a + bX.

Fixed Cost

Costs that do not change with the level of production or sales, such as rent or salaries.

Total Expense

The sum of all costs and expenses associated with the operations of a business.

Level Of Activity

A measure of the amount of output or work performed, often used in accounting to allocate fixed costs or in operational planning.