When a Country Imports More Than It Exports, It Has

question 150

Multiple Choice

When a country imports more than it exports, it has a(n)

• A) trade surplus.
• B) favorable balance of trade.
• C) favorable exchange role.
• D) unfavorable balance of trade.
• E) favorable balance of payments.

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Definitions:

Production Possibilities Curve

A graphical representation showing the maximum combinations of goods or services that can be produced with a fixed amount of resources.

Operating Inefficiently

Conducting business in a manner that does not maximize output or profits relative to input and resources.

Technological Advance

The development and application of innovative tools, machines, systems, and methods to improve processes, productivity, and efficiency.

Production Possibilities Curve

A graphical representation showing the maximum combination of goods or services that can be produced with a fixed amount of resources.