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What is meant by a 'trade deficit'?

  1. A
    When a country's trade is balanced
  2. B
    When a country's imports exceed its exports
  3. C
    When a country's exports exceed its imports
  4. D
    When a country has no trade at all

Solution & Step-by-step Explanation

A trade deficit occurs when a country's total monetary value of imports of goods and services is greater than its total monetary value of exports over a given period of time.

Practice this question

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What is meant by a 'trade deficit'?
A
When a country's trade is balanced
B
When a country's imports exceed its exports
C
When a country's exports exceed its imports
D
When a country has no trade at all

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International TradeBalance of PaymentsEconomics

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