Last year, the United States imported less from Switzerland than it exported to Switzerland. Which of the following statements is true?

Question

Quizplus · Accepted Answer

If the United States exported more to Switzerland than it imported, it has a trade surplus with Switzerland. A balance of payments deficit occurs when the overall amount of money flowing out of a country exceeds the amount of money flowing in, which is not specified in the question. A negative balance of trade is not a commonly used term. Thus, B is the correct answer.

Last Year, the United States Imported Less from Switzerland Than