Our Basic Problem with Respect to Our Balance of Trade

question 110

Multiple Choice

Our basic problem with respect to our balance of trade is that

• A)we consume too much and save too much.
• B)we consume too little and save too little.
• C)we consume too much and save too little.
• D)we consume too little and save too much.

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Definitions:

Low-Income Developing

A term used to describe countries with lower levels of income and economic development in comparison to global averages.

Annual Per Capita Income

The average income earned per person in a given area in a specified year, calculated by dividing the area's total income by its population.

Democratic Republic

A form of government in which representatives elected by the people make and enforce laws and policies, but the head of state is usually a president.

Low-Income Developing

Refers to countries with low levels of income per capita, often characterized by limited economic development and facing challenges in poverty, health, and education.