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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

What is the difference between trade deficits and balance of trade?

To determine

The difference between trade deficits and balance of trade is to be determined.

Explanation

The trade deficit is the situation of excess of imports in the country over the exports from the country. This excess in imports implies that net financial capital is going to other economy as after import of goods and services, the importer has to pay for the imported material...

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