Examlex
The equation of exchange applies only to the short run.
Balance of Trade
The difference between the value of a country's exports and imports over a certain period.
Balance of Payments
A statement that summarizes an economy’s transactions with the rest of the world for a specified time period, including trade, financial, and capital transactions.
Trade Surplus
A scenario where the value of goods a country sells abroad is higher than what it buys, reflecting a surplus in the trade balance.
Favorable Balance
A financial situation where the credits or revenues are greater than debits or expenses, leading to a net positive outcome.
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