Which of the Following Best Describes a Positive Trade Balance

question 210

Multiple Choice

Which of the following best describes a positive trade balance?

• A) The economic condition in which a country's exports exceed its imports
• B) The economic condition in which a country's imports exceed its exports
• C) The economic condition in which a country's inflow of money exceeds its outflow
• D) The economic condition in which a country's outflow of money exceeds its inflow
• E) The economic condition in which a country's natural resources exceed its human resources

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Definitions:

Oral Contract

An agreement between parties that is spoken, not written, but is still legally binding.

Customized Goods

Products that are specifically made according to the specifications or requirements of a customer.

Partial-Performance Exception

A legal principle that allows for the enforcement of an oral contract when one party has taken significant action based on the agreement, despite the lack of a written contract.

Merger Clauses

Provisions in a contract stating that the written document represents the entire agreement between the parties, negating any oral agreements.