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Countries attempt to maintain a favorable trade balance by implementing various strategies, such as promoting exports through subsidies and incentives for domestic industries, while imposing tariffs or quotas on imports to limit foreign competition. They may also engage in trade agreements to secure better market access for their products. Additionally, governments often invest in research and development to enhance the competitiveness of their goods and services in the global market. Finally, currency manipulation can be employed to make exports cheaper and imports more expensive, thereby influencing trade flows.
What else can I help you with?
How would countries attempt to maintain a favorable trade balance?
They would export more goods than they imported.
How does tariffs help us maintain a favorable balance of trade and balance of payments?
does Tariffs protect American jobs and wages.
What factor was necessary to maintain a favorable balance of trade in the 1600s and 1700s?
they exported more than they imported
What does favorable balance of trade mean?
A favorable balance of trade occurs when a country's exports exceed its imports, resulting in a trade surplus. This situation is generally viewed as positive for the economy, as it indicates that a nation is selling more goods and services to other countries than it is buying from them. A favorable balance can strengthen the national currency and contribute to economic growth. However, it may also lead to trade tensions with countries that have trade deficits.
Does the US have a favorable or unfavorable balance of trade?
Favorable
How would countries attempt to maintain a favorable trade balance?
They would export more goods than they imported.
How would countries attempt to maintain favorable trade balance?
They would export more goods than they imported.
How does tariffs help us maintain a favorable balance of trade and balance of payments?
does Tariffs protect American jobs and wages.
What factor was necessary to maintain a favorable balance of trade in the 1600s and 1700s?
they exported more than they imported
What does favorable balance of trade mean?
A favorable balance of trade occurs when a country's exports exceed its imports, resulting in a trade surplus. This situation is generally viewed as positive for the economy, as it indicates that a nation is selling more goods and services to other countries than it is buying from them. A favorable balance can strengthen the national currency and contribute to economic growth. However, it may also lead to trade tensions with countries that have trade deficits.
Does the US have a favorable or unfavorable balance of trade?
Favorable
What does it mean for England to have a favorable balance of trade?
it means they are taking in more money exporting its goods than it pays out to buy goods from other countries
What was the goal of mercantilism?
creation of a favorable balance of trade
Which was a feauture of mercantilism?
seeking a favorable trade balance
Can a nation have a favorable balance of trade and an unfavorable balance of payments?
Yes, as the balance of trade is only one part of the balance of payments
What was one goal of mercantilism?
creation of a favorable balance of trade
Which was an aspect of mercantilism?
An interest in having a favorable trade balance
