f the Philippines' Net Export accounts to 12,561,324, while Net Import amounts to 11,421,125... then the Philippines has? Trade Surplus, Unfavorable Trade Deficit, Favorable Trade Deficit, Unfavorable Trade Surplus, Favorable

f the Philippines' Net Export accounts to 12,561,324, while Net Import amounts to 11,421,125... then the Philippines has? Trade Surplus, Unfavorable Trade Deficit, Favorable Trade Deficit, Unfavorable Trade Surplus, Favorable

Principles of Macroeconomics (MindTap Course List)

7th Edition

ISBN:9781285165912

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter18: Open-Economy Macroeconomics: Basic Concepts

Section: Chapter Questions

Problem 3QCMC

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Question

If the Philippines' Net Export accounts to 12,561,324, while Net Import amounts to 11,421,125... then the Philippines has?

Trade Surplus, Unfavorable
Trade Deficit, Favorable
Trade Deficit, Unfavorable
Trade Surplus, Favorable

Definition Definition Situation in which a country spends more on imports than it makes through exports. When a trade deficit exists, net exports will be negative. Trade Deficit = (Imports) - (Exports)

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