A trade deficit occurs when:
A)exports exceed imports.
B)imports exceed exports.
C)tariffs exceed quotas.
D)quotas exceed tariffs.

Name: A trade deficit occurs when: A)exports exceed imports. B)imports exceed exports. C)tariffs exceed quotas. D)quotas exceed tariffs.
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Question

Quizplus · Accepted Answer

When imports exceed exports, the difference between the value of a country's imports and the value of its exports in a given period is referred to as the country's "trade deficit."

A Trade Deficit Occurs When