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If a Nation Has an Unfavourable Balance of Trade, It

question 32

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If a nation has an unfavourable balance of trade, it also has an unfavourable balance of payments.


Definitions:

Tax Rate

The percentage at which income or profits are taxed by the government.

Income Tax Liability

The amount of tax owed to the government for earnings made during a fiscal period.

Operating Income

The profit earned from a firm's core business operations, excluding deductions of interest and tax.

Tax Rate

The percentage at which an individual or corporation is taxed.

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