An imbalance in international trade in which the value of imports exceeds the value of exports is called a trade deficit.

Name: An imbalance in international trade in which the value of imports exceeds the value of exports is called a trade deficit.
Brand: Quizplus
Rating: 4.7 (54 reviews)

Question

Quizplus · Accepted Answer

The statement describes the definition of a trade deficit, which is when a country imports more goods and services than it exports, resulting in a negative balance of trade.

An Imbalance in International Trade in Which the Value of Imports