Asked by Hayden Benedict on Jun 29, 2024
Verified
If a country's imports are greater than its exports, a country has a trade deficit.
Trade Deficit
A situation where a country's imports exceed its exports, leading to net outflow of domestic currency to foreign markets.
Exports
Goods or services sent from one country to another for sale or trade, contributing to a country's economy.
Imports
Goods or services brought into one country from another for the purpose of sale.
- Comprehend the idea of trade surplus and trade deficit.
Verified Answer
ZK
Zybrea KnightJul 04, 2024
Final Answer :
True
Explanation :
A trade deficit occurs when a country's imports exceed its exports, meaning it is buying more goods and services from other countries than it is selling to them.
Learning Objectives
- Comprehend the idea of trade surplus and trade deficit.