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

question 41

Multiple Choice

When is a country said to be in balance-of-trade equilibrium?

• A)When it does not have a trade deficit
• B)When the income its residents earn from exports is less than the money its residents pay to other countries for imports
• C)When the current account of its balance of payments is in balance
• D)When the income its residents earn from exports is greater than the money its residents pay to other countries for imports

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Definitions:

McGregor's Theory Y

A theory of management that assumes employees are self-motivated, seek responsibility, and are creative problem solvers.

Lower-Order Needs

Basic human requirements such as physiological and safety needs that must be satisfied before higher-order needs can be addressed, according to Maslow's hierarchy.

Hygiene Factors

Elements related to job satisfaction which, if absent, can cause dissatisfaction, according to Herzberg's motivation-hygiene theory. They include aspects like working conditions and salary.

Herzberg's Two-Factor Theory

A motivation theory which suggests that there are two sets of factors that influence job satisfaction in the workplace: hygiene factors and motivators.