A country exports goods and services valued at $300 million in a year. During that same year, the country imports goods and serves valued at $400 million. Which conclusion best describes the country's balance of trade?A.The country has established a comparative advantage.B.The country has a trade deficit.C.The country has established an absolute advantage.D.The country has a trade surplus.

Question 8 of 10A country imports goods and services worth $700 million and exports goods and services worth about $500 million. This means that the country has a(n) _____.A.trade deficitB.absolute advantageC.comparative advantageD.trade surplus

Which of the following refers to the situation when a country's imports exceed its exports? Question 10Answer a. Trade deficit b. Trade surplus c. Trade advantage d. Balance of payments e. Balance of trade

If the value of a country's imports are $46 billion and the value of its exports are $57 billion, then what is the value of its balance of trade?Multiple choice question.–$11 billion$11 billion$103 billionCannot be determined without knowing its exchange rate.

If a country exports a greater value of goods than it imports, it has a(n) _____.A.absolute advantageB.trade surplusC.comparative advantageD.trade deficit

If a country’s annual imports are $500 billion and its exports are $200 billion, the difference between the two representsMultiple Choicethe budget deficit.the country’s gross domestic product.the balance of trade.the country’s capital gains.