A Trade Deficit Occurs When _____

question 68

Multiple Choice

A trade deficit occurs when _____.

• A)imports are sold at low profits
• B)foreign-aid payments exceed exports
• C)imports exceed exports
• D)there is a net flow of money into a country

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Definitions:

Inept Set

A group of brands that a consumer excludes from purchase consideration because they are viewed as unacceptable.

Inert Set

A group of brands or products that a consumer is aware of but feels indifferent towards when making a purchase decision.

Lexicographic Rule

A decision-making rule where alternatives are compared based on the most important attribute first; if one option is superior, the decision is made, otherwise the next most important attribute is considered.

Attribute Preference Rule

A decision rule used by consumers, focusing on a single characteristic of a product to make a choice, often when other decision criteria are overwhelming or unclear.