ECONOMICS (CBSE/UGC NET)

ECONOMICS

BALANCE OF TRADE

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
What is a trade surplus?
A
when the value of exports exceeds the value of imports
B
when the value of imports exceeds the value of exports
C
when the values of imports and exports are equal to each other
D
when the value of money greater than the amount of goods and services imported
Explanation: 

Detailed explanation-1: -If exports exceed imports then the country has a trade surplus and the trade balance is said to be positive. If imports exceed exports, the country or area has a trade deficit and its trade balance is said to be negative.

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