ECON: MICRO4 (New, Engaging Titles from 4LTR Press)
4th Edition
ISBN: 9781285423548
Author: William A. McEachern
Publisher: Cengage Learning
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Question
Chapter 3, Problem 4.13PA
To determine
Reasons as to why international trade occurs and meaning of deficit in the merchandise trade balance
Concept Introduction:
International Trade: The exchange of capital, goods and services beyond the national boundaries of the country is termed as International Trade.
Merchandise Trade Balance: It is the difference between the total imports and exports of the goods of the country.
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Earnings such as wages, interests and dividends by residents who are living in other countries are called _____________.
a.
Domestic product
b.
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5 major imported product in USA and 5 major exported products in USA
Name of major trading partners of (5 major imported product in USA and 5 major exported products in USA) from where they imported
-> Difference between value is exports and imports of goods and services is called trade balance
True/False
Chapter 3 Solutions
ECON: MICRO4 (New, Engaging Titles from 4LTR Press)
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