2 Nov 2021
Problem 15
Page 574
Section SELF: CHECK QUESTIONS
Chapter 23: The International Trade and Capital Flows
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2 Nov 2021
Introduction
Whenever the worth of a nation's imports exceeds the value of its exports, a trade imbalance is created. Imports and exports 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, it would usually harm the growth of the economy in the deficit-ridden nation.
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