If a Country Buys More Goods and Services Than It

question 57

Multiple Choice

If a country buys more goods and services than it sells over a specified period of time,it has a _____.

• A)trade surplus
• B)trade deficit
• C)unfavorable balance of payments
• D)favorable balance of trade

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Definitions:

Cost of Assessment

The total expenses involved in evaluating, analyzing, or determining the value, quality, or importance of something.

Cost Management

The process of planning and controlling the budget of a business or project, focusing on reducing costs and maximizing value.

Cost Savings

The reduction in expenses achieved through efficient management, negotiation, process improvements, or other means, contributing to increased profitability.

Cost Reductions

Efforts made to lower operating expenses and production costs without compromising quality or performance.