When the Value of a Country's Imports Exceeds the Value

question 91

Multiple Choice

When the value of a country's imports exceeds the value of its exports the country is said to have a:

• A) trade surplus
• B) trade deficit
• C) lack of trade
• D) failure of trade
• E) trade loss

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Definitions:

Bakery

A bakery is a business establishment that produces and sells flour-based food baked in an oven, such as bread, cookies, cakes, pastries, and pies.

Average Product

The output per unit of input, calculated by dividing total product (output) by the number of units of the input.

Coffee House

A venue or establishment that primarily serves coffee and related beverages, often functioning as a social hub.

Coffee Machines

Appliances designed to brew coffee, varying widely in terms of functionality, design, and brewing techniques.