A deficit in the balance of trade in goods and services refers to
A deficit in trade in goods and services means that imports exceed exports in value. Exports exceeding imports produce a surplus, while equal exports and imports produce a…
Choose your answer
A deficit in the balance of trade in goods and services refers to
Answer and explanation
Correct answer B
A deficit in trade in goods and services means that imports exceed exports in value. Exports exceeding imports produce a surplus, while equal exports and imports produce a balanced trade account.
Practice for these exams
-
Gujarat SET (GSET)