If the Value of the Goods and Services a Country

question 29

Multiple Choice

If the value of the goods and services a country buys from other countries exceed the value of the goods and services it sells to other countries,then the country runs a _____.

• A) trade surplus
• B) trade deficit
• C) budget surplus
• D) budget deficit
• E) surplus value

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Definitions:

Market Value

The price at which assets or services are currently being exchanged in the marketplace.

Accumulated Depreciation

The total amount of a company's asset value that has been expensed as depreciation since the asset was acquired.

Accounts Receivable

Financial claims of a business against its customers for the provision of goods or services, which have not been paid for.

Partners' Equity

The ownership interest of partners in a partnership, representing their original investments plus any accumulated profits or minus any losses.