If the United States imports more than it exports, it will have a: trade surplus, trade deficit, import balance, trade balance

A country that is spending more than it makes a- unstable b- trade balance c- trade deficit c- trade surplus

Despite having a customs union, countries in the EU implemented a series of quality, health and safety regulations that could affect imported goods from EU members in the 1980s. What would be the impact of creating those frictional barriers on producers, consumers and the EU?  What would be the impact of those frictional barriers on the overall trade between members of the EU and between the EU and the rest of the world? What was the solution implemented to prevent these frictional barriers?

It is impossible that a country runs a negative trade balance over decades.  True  False