Law College

A country imports goods and services worth $700 million and exports goods
and services worth about $500 million. This means that the country has an)
a. trade surplus
b. trade deficit
c. comparative advantage
d. absolute advantage

Answers

Answer 1

Answer:

B. trade deficit

Explanation:

just did it on a-p-e-x

Answer 2

A trade deficit occurs when a country imports more goods and services than it exports. In this case, the country is importing goods and services worth $700 million and exporting goods and services worth about $500 million, indicating a trade deficit of $200 million. The correct option is b.

What happens with a trade deficit?

The salaries of domestic workers are lowered when there is a trade deficit, placing many of them in lower-income tiers. Saving money is typically far more difficult for low-income families. Decreases in national savings can and do result from growing trade imbalances.

A trade surplus, on the other hand, occurs when a country exports more goods and services than it imports.

Comparative advantage and absolute advantage refer to a country's ability to produce a particular good or service more efficiently than other countries. They are not directly related to trading deficits or surpluses.

Thus, the ideal selection is option b.

Learn more about trade deficit here:

https://brainly.com/question/25313034

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