When the total value of a nation's exports is higher than the total value of its imports, that country has a(n) _____.
A) absolute advantage
B) trade surplus
C) trade deficit
D) comparative advantage

Question

Quizplus · Accepted Answer

When the total value of a nation's exports is higher than the total value of its imports, it has a trade surplus. This means that the country is exporting more goods and services than it is importing, which can lead to increased economic growth, job creation, and improved trade relationships with other countries.

When the Total Value of a Nation's Exports Is Higher