A Trade Deficit Means a Net

question 29

Multiple Choice

A trade deficit means a net

• A) inflow of payments for goods and services.
• B) outflow of goods and services.
• C) inflow of goods and services.
• D) excess of exports over imports.

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Definitions:

Collusively

Acting in coordination with others, often in secret, to limit competition and manipulate market outcomes, such as setting prices.

Product Demand

The desire and willingness of consumers to purchase a particular good or service at a given price.

Oligopoly

A market structure characterized by a few firms dominating the industry, leading to limited competition and potentially higher prices for consumers.

Pure Competition

A market scenario where numerous sellers offer homogenous products, making the market highly competitive.