One Year a Country Has Positive Net Exports

question 146

Multiple Choice

One year a country has positive net exports.The next year it still has positive but larger net exports

• A)its trade surplus fell.
• B)its trade surplus rose.
• C)its trade deficit fell.
• D)its trade deficit rose

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Definitions:

Break-Even Point

The point at which total cost and total revenue are equal, meaning there is no net loss or gain.

Variable Cost

A cost that varies with the level of output or production, such as materials and labor costs.

Break-Even Point

The level of production or sales at which total revenues equal total costs, resulting in no net loss or gain.

Variable Costs

Costs that vary directly with the level of production or volume of output.