A Country Is Said to Be in Balance-Of-Trade Equilibrium When

question 79

Multiple Choice

A country is said to be in balance-of-trade equilibrium when:

• A) it has the potential to produce all goods that its residents want without engaging in foreign trade.
• B) the income its residents earn from exports is equal to the money its residents pay for imports.
• C) the country import all goods that its residents want by engaging in foreign trade.
• D) it has the potential to balance the production and procurement of the basic amenities that it needs.

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Definitions:

Goal-setting

The process of identifying and setting achievable objectives or benchmarks to guide behavior and track success.

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