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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 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 a country imports more than it exports?
It would have what is known as a Trade Surplus.
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.
