The Aggregation of Importing and Exporting by Both Sides Leads

question 47

Multiple Choice

The aggregation of importing and exporting by both sides leads to a:

• A) Balance of trade
• B) Trade surplus or deficit
• C) Different nation s trade
• D) Both a balance of trade and a trade surplus or deficit

---

Definitions:

National Debt

The net accumulation of federal budget deficits.

Rate of Unemployment

The percentage of the labor force that is jobless and actively seeking employment.

Normative Economic Statement

A statement that reflects opinions or judgments about what ought to be in economics, focusing on the desirability of certain economic policies or outcomes.

Minimum Wage

The lowest legal wage that employers are allowed to pay their workers, set by law to ensure a minimum standard of living for employees.