If a Country's Imports Are Greater Than Its Exports,what Is

question 103

Multiple Choice

If a country's imports are greater than its exports,what is the country said to have?

• A) a trade surplus
• B) a trade deficit
• C) a comparative advantage
• D) an absolute advantage

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Definitions:

Korean War

A conflict between North Korea, with the support of China and the Soviet Union, and South Korea, supported by the United Nations, primarily the United States, from 1950 to 1953, which ended in an armistice.

Long Telegram

A telegram by American diplomat George Kennan in 1946 outlining his views of the Soviet Union that eventually inspired the policy of containment.

Policy of Containment

A foreign policy strategy aimed at preventing the spread of communism, adopted by the United States during the Cold War.

Communist Victory

Refers to a successful achievement or takeover by communist forces or parties in a political or military struggle.