A Country's Balance of Trade Is the Total Value of Its

question 56

True/False

A country's balance of trade is the total value of its imports less the total value of its exports.

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Definitions:

Presumed

Accepted as true or existing until proven otherwise; an assumption based on general experience.

Acceptance

In contract law, the act of agreeing to the terms of an offer, thereby creating a binding contract.

Auctioneer

A person authorized to conduct sales by auction, taking bids, and declaring goods sold.

Offeror

The party in a contract negotiation who proposes the terms of an agreement to another party.