Asked by
Elisabeth Walton
on Nov 03, 2024
Verified
If a nation has an unfavorable balance of trade,it also has an unfavorable balance of payments.
Balance of Trade
The difference between the value of a country's exports and imports over a certain period.
Balance of Payments
A statement that summarizes an economy’s transactions with the rest of the world for a specified time period, including trade, financial, and capital transactions.
- Get familiar with economic indicators including GDP growth, trade balances, and exchange rates, and their implications for international trade.
Verified Answer
ST
Learning Objectives
- Get familiar with economic indicators including GDP growth, trade balances, and exchange rates, and their implications for international trade.
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