A Balance-Of-Trade Deficit Exists If

question 180

Multiple Choice

A balance-of-trade deficit exists if

• A)the dollar value of exports exceeds the dollar value of imports.
• B)the dollar value of imports exceeds the dollar value of exports.
• C)money outflows exceed money inflows.
• D)money inflows exceed money outflows.

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Definitions:

Supply Elastic

A measure of how much the quantity supplied of a good or service changes in response to a change in price.

Luxury Tax

A tax placed on expensive, non-essential products or services, aimed at curbing the consumption of luxury goods.

Middle Class

A social class made up of people who fall economically between the working class and the upper class, often defined by income, education, and occupation.

Customer Structures

The organization or arrangement of a company's customer base, typically segmented by needs, demographics, or behaviors.