When calculating net exports, if the cost of imports is smaller than the value of exports for a country, what is this result called when the country has benefited from trading? A. a trade balance B. a trade deficit C. a trade surplus

When calculating net exports, if the cost of imports is smaller than the value of exports for a country, what is this result called when the country has benefited from trading? A. a trade balance B. a trade deficit C. a trade surplus

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

Help please

When calculating net exports, if the cost of
imports is smaller than the value of exports for
a country, what is this result called when the
country has benefited from trading?
A. a trade balance
B. a trade deficit
C. a trade surplus
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