Asked by Romain Ndoutoume on Jun 29, 2024
Verified
If Mexico has a exports of 40 billion pesos and imports of 50 billion pesos, it is running a trade surplus.
Trade Surplus
A situation where a country exports more goods and services than it imports.
Exports
Goods or services produced in one country and sold to buyers in another, contributing to a country's gross domestic product.
Imports
Items or services acquired from overseas to be sold within a country.
- Understand thoroughly the criteria defining trade surplus and trade deficit.
Verified Answer
LA
Lucky AtwalJul 06, 2024
Final Answer :
False
Explanation :
Mexico is running a trade deficit because its imports (50 billion pesos) exceed its exports (40 billion pesos).
Learning Objectives
- Understand thoroughly the criteria defining trade surplus and trade deficit.