Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN: 9781947172364
Author: Steven A. Greenlaw; David Shapiro
Publisher: OpenStax
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Chapter 29, Problem 27CTQ

Suppose a country has an overall balance of trade so that exports of goods and services equal imports of goods and services. Does that imply that the country has balanced trade with each of its trading partners?

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If a country's GDP is $10 trillion, its exports are $1 trillion, and its imports are $1.5 trillion, then its trade/GDP ratio is:
What is a trade deficit? a) When a country exports more goods than it imports b) When a country's imports and exports are balanced c) When a country imports more goods than it exports d) When a country has no international trade
how can countries attain/account for trade equilibria when involved in trade transactions?

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Principles of Economics 2e

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