1 Nov 2021
Problem 14
Page 574
Section SELF: CHECK QUESTIONS
Chapter 23: The International Trade and Capital Flows
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1 Nov 2021
Introduction
Whenever the worth of a country's imports exceeds the value of its exports, a trade deficit is created. Exports and imports apply to both items & services. Simply put, a trade imbalance occurs when a country purchases more products and services than it sells. Due to an oversimplification, this would generally harm growth and job creation in the deficit-ridden nation.
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