If a Country's Exports Are Greater Than Its Imports, What

question 166

Multiple Choice

If a country's exports are greater than its imports, what is the country said to have?

• A) a trade surplus
• B) a trade deficit
• C) a comparative advantage
• D) an absolute advantage

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Definitions:

Bundling

A marketing strategy that involves offering several products or services for sale as one combined product or service package.

Marginal Cost

The added cost of producing one additional unit of output.

Marginal Revenue

The incremental income achieved by dispensing one more unit of a good or service.

Full-Fare Customers

Passengers who pay the full, un-discounted price for their tickets, typically providing higher revenue per seat for service providers.