Related to the Economics in Practice on p.691: ________ occur when a country's imports of goods and services outweigh its exports.

Question

Quizplus · Accepted Answer

A trade gap, also known as a trade deficit, occurs when a country's imports of goods and services are higher than its exports. This can lead to an imbalance in the balance of payments and can have various economic and political implications. Federal deficits refer to a government's spending exceeding its revenue, and currency appreciations/depreciations refer to changes in the value of a country's currency relative to other currencies.

Related to the Economics in Practice on P