When a Country Imports More Than It Exports, It Has

question 150

Multiple Choice

When a country imports more than it exports, it has a(n)

• A) trade surplus.
• B) favorable balance of trade.
• C) favorable exchange role.
• D) unfavorable balance of trade.
• E) favorable balance of payments.

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Definitions:

Unaware

Lacking knowledge or awareness about something.

Equity of Redemption

The right of a debtor to reclaim property that has been used as collateral after the debt obligation has been fully paid.

Hypothecation

The practice of pledging assets as collateral to secure a loan, without transferring ownership of the collateral.

Legal Title

The formal right of ownership of property, recognized and protected by law.