A country experiences a trade surplus when the total value of exports is higher than the total value of imports.

Question

Quizplus · Accepted Answer

A trade surplus occurs when a country's exports exceed its imports, resulting in a positive balance of trade. This means that the country is selling more goods and services to other countries than it is buying from them, leading to an increase in foreign exchange reserves and a boost in the domestic economy.

A Country Experiences a Trade Surplus When the Total Value