If a Country's Imports Are Greater Than Its Exports,what Is

question 103

Multiple Choice

If a country's imports are greater than its exports,what is the country said to have?

• A) a trade surplus
• B) a trade deficit
• C) a comparative advantage
• D) an absolute advantage

---

Definitions:

Total Profit

The sum of net gains, representing the total revenue from transactions minus the total costs associated with those transactions.

Enlarge

To make something larger or expand in size, scale, or scope.

Government Failure

A situation where government intervention in the economy causes more harm than good, leading to inefficient outcomes.

Inefficient Use

The situation where resources are not being used in the best possible manner, where potential output is not maximized.