Econ Micro (book Only)
6th Edition
ISBN: 9781337408066
Author: William A. McEachern
Publisher: Cengage Learning
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Question
Chapter 3, Problem 13P
To determine
Reasons as to why international trade occurs and meaning of deficit in the merchandise trade balance
Concept Introduction:
International Trade: The exchange of capital, goods and services beyond the national boundaries of the country is termed as International Trade.
Merchandise Trade Balance: It is the difference between the total imports and exports of the goods of the country.
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