If a country exports $100 billion worth of goods and imports $120 billion worth of goods in a given year, that country is said to have a trade deficit.

Name: If a country exports $100 billion worth of goods and imports $120 billion worth of goods in a given year, that country is said to have a trade deficit.
Brand: Quizplus
Rating: 4.7 (55 reviews)

Question

Quizplus · Accepted Answer

A trade deficit occurs when a country imports more goods than it exports, which is the case in this scenario as the country imports $20 billion more worth of goods than it exports.

If a Country Exports $100 Billion Worth of Goods and Imports