Whenever the Value of a Nation's Exports Is More Than

question 88

Multiple Choice

Whenever the value of a nation's exports is more than the value of its imports, the nation has:

• A) a trade deficit.
• B) a trade surplus.
• C) balanced trade.
• D) a trade balance.

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Definitions:

Tort

A civil wrong not arising from a breach of contract. A breach of a legal duty that proximately causes harm or injury to another.

Consent

Agreement or permission given by a person with full understanding of the implications.

Reasonable Care

The level of carefulness and attention that a reasonably wise and practical individual would apply under comparable conditions.

Landlord

The owner of a property who leases it to a tenant under a rental agreement, responsible for maintaining the property and adhering to the lease terms.