The total value of the goods exported by Maulini, a South American country, in the last fiscal year was lower in comparison to the total value of the goods imported by it. Given this information, Maulini had a _____ in the last fiscal year.
A) trade surplus
B) balance of payments surplus
C) trade deficit
D) balance of payments deficit

Question

Quizplus · Accepted Answer

A trade deficit occurs when a country's imports exceed its exports, which is the case for Maulini as the value of goods exported was lower than the value of goods imported.

The Total Value of the Goods Exported by Maulini, a South