A country is said to be in balance-of-trade equilibrium when it produces all the goods needed for domestic consumption.

Name: A country is said to be in balance-of-trade equilibrium when it produces all the goods needed for domestic consumption.
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Balance-of-trade equilibrium occurs when the value of a country's exports is equal to the value of its imports. It does not necessarily mean that the country produces all the goods needed for domestic consumption.

A Country Is Said to Be in Balance-Of-Trade Equilibrium When