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According to the theory of mercantilism a country has a favorable balance of trade when?
the value of exports is greater than the value of imports
What happens when level of imports is greater than level of exports?
A trade deficit
What are some examples of trade deficit?
oil imports greater than exports
What is the difference between a favorable and an unfavorable balance of trade?
noun the difference between the values of exports and imports of a country, said to be favorable or unfavorable as exports are greater or less than imports. ----
What does it mean to an economy if exports exceed imports?
exports more than it imports
According to the theory of mercantilism a country has a favorable balance of trade when?
the value of exports is greater than the value of imports
What happens when the level of imports is greater than the level exports?
A trade deficit
What are some examples of trade deficit?
oil imports greater than exports
What happens when level of imports is greater than level of exports?
A trade deficit
What is the difference between a favorable and an unfavorable balance of trade?
noun the difference between the values of exports and imports of a country, said to be favorable or unfavorable as exports are greater or less than imports. ----
What does it mean to an economy if exports exceed imports?
exports more than it imports
What does a country experience when the total value of exports is higher than the total value of imports?
they will fell differentthey will
What happens when the level of imports is greater than the level of exports?
A trade deficit
Net exports is a negative number when?
This is when a countries imports are more than its exports itÊis most commonly referred to as a trade deficit. These terms are used in accounting and usedÊin explainingÊand calculating a countries GDP.
Does France import more wine than it exports by volume?
No. Value of wine exports: 5.9 billion euro Value of imports: 526 million euros
What is the term used by economist to describe where a nation exports more than it imports?
The country's net exports are positive(net exports being exports minus imports)
Explain how exports can be greater than a country's GDP?
gdp includes consumption, investment ,govt spending and net exports.......the last term i,e., net exports is nothing but (exports-imports) .so if imports are far higher than exports then it can make the term gdp less than the term exports .....countries having heavy import based economy will have this anamoly.....especially small countries like singapore luxembourg have this feature....
