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What happens when level of imports is greater than level of exports?
A trade deficit
What happens when the level of imports is greater than the 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
What happens when level of imports is greater than level of exports?
A trade deficit
What happens when the level of imports is greater than the level exports?
A trade deficit
What happens when the level of imports is greater than the 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
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.
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 a country imports more than it exports?
It would have what is known as a Trade Surplus.
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)
What happens when the level of imports is greater than the level of export?
A trade deficit
What is the difference in value between what a nation imports and what it exports?
The difference in value between what a nation imports and what it exports is called the trade balance. If a country exports more than it imports, it has a trade surplus. If it imports more than it exports, it has a trade deficit. A balanced trade is when a country's imports and exports are equal.
