When a Country Exports Fewer Goods and Services Than It

question 49

Multiple Choice

When a country exports fewer goods and services than it imports,this is called

• A)the terms of trade.
• B)the exchange rate.
• C)a balance of trade deficit.
• D)a balance of trade surplus.

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Definitions:

Inventory

The overall quantity of products and resources that a business possesses, which are either for sale or to be utilized in manufacturing.

Perpetual Inventory

A continuous tracking system for inventory that records the sale or purchase of inventory in real-time through the use of computerized systems.

Accounts Payable

Debts of a company reflecting the money owed to lenders or suppliers for products and services acquired on credit.

Inventory

All products and materials that a company holds, aimed at either resale or being incorporated into manufacturing processes.