Which of the following describes a country when the income its residents earn from exports is equal to the money its residents pay to other countries for imports?

Question

Quizplus · Accepted Answer

Balance-of-trade equilibrium occurs when the value of a country's exports equals the value of its imports, resulting in a zero trade balance. This means that the income earned from exports is equal to the money paid for imports, resulting in a balance of trade.

Which of the Following Describes a Country When the Income