Asked by
Mademoiselle Soriano
on Nov 05, 2024
Verified
If Belgium has exports of 50 billion euros and imports of 40 billion euros, then it is running a trade deficit.
Trade Deficit
A situation where the value of a country's imports exceeds the value of its exports.
Exports
Goods or services sold by a country to buyers in another country.
Imports
Products or services imported from foreign countries for the purpose of selling.
- Familiarize yourself with the principles of trade surplus and trade deficit.
Verified Answer
LC
Learning Objectives
- Familiarize yourself with the principles of trade surplus and trade deficit.