When the Dollar Value of a Country's Imports of Final

question 221

Multiple Choice

When the dollar value of a country's imports of final products is less than the dollar value of its exports,the country has a

• A)balance of trade deficit.
• B)budget surplus.
• C)budget deficit.
• D)balance of trade surplus.
• E)None of the choices is truE.

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Definitions:

International Gold Standard

A monetary system in which countries tie the value of their currencies to a specific amount of gold, facilitating stable exchange rates and international trade.

Balance of Payments

A log detailing all financial interactions between a country's inhabitants and other global entities over a specific timeframe.

International Gold Standard

A monetary system in which the value of a country's currency is directly linked to a specific amount of gold, facilitating stable exchange rates and international trade.

Monetary Unit

The standard unit of value of a currency, used as a medium of exchange within an economy.