Question 8 of 10A country imports goods and services worth $700 million and exports goods and services worth about $500 million. This means that the country has a(n) _____.A.trade deficitB.absolute advantageC.comparative advantageD.trade surplus

If a country exports a greater value of goods than it imports, it has a(n) _____.A.absolute advantageB.trade surplusC.comparative advantageD.trade deficit

A country exports goods and services valued at $300 million in a year. During that same year, the country imports goods and serves valued at $400 million. Which conclusion best describes the country's balance of trade?A.The country has established a comparative advantage.B.The country has a trade deficit.C.The country has established an absolute advantage.D.The country has a trade surplus.

Assume a small open economy's domestic output (Y) is $750 million, its domestic spending is $850 million, and total imports are $150 million. Therefore, the country runs a trade ________, and total exports are ________.a.deficit; $50 millionb.surplus; $250 millionc.surplus; $50 milliond.deficit; $250 million

Which of the following refers to the situation when a country's imports exceed its exports? Question 10Answer a. Trade deficit b. Trade surplus c. Trade advantage d. Balance of payments e. Balance of trade

Multiple Choice QuestionWhat is the result when a country's exports exceed its imports?Multiple choice question.A trade deficitA trade surplusA trade equilibriumAn immediate asset transaction