What term is used when the total value of a country's exports is higher than the total value of its imports?
A) countertrade
B) trade surplus
C) trade exchange
D) trade deficit

Question

Quizplus · Accepted Answer

When the total value of a country's exports is higher than the total value of its imports, the country is said to have a trade surplus. This means that the country is exporting more goods and services than it is importing, which can have a positive effect on its economy. A trade surplus can lead to increased domestic production, job creation, and economic growth.

What Term Is Used When the Total Value of a Country's