Which economic term describes a country that sells more goods and services abroad than it buys?
Answer and explanation
Correct answer: B. A trade surplus
- Step 1: The balance of trade can be positive or negative. Step 2. Exports exceeding imports is a surplus. Answer: A trade surplus. Why not the others: A trade deficit is the opposite; a budget deficit refers to state finances; stagflation is high inflation with weak growth.
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