Asked by
Hadeel Ayyad
on Nov 05, 2024
Verified
If Japan has exports of 70 billion yen and imports of 60 billion yen, it is running a trade surplus.
Trade Surplus
A condition where a country's exports exceed its imports, indicating a positive balance of trade.
Exports
Products or services shipped from one nation to another for the purpose of being sold or exchanged.
- Gain an understanding of what constitutes a trade surplus and a trade deficit.
Verified Answer
AA
Learning Objectives
- Gain an understanding of what constitutes a trade surplus and a trade deficit.