GMGT 1010 Lecture 23: GMGT 1010 Lecture 23

• School: University of Manitoba
• Department: General Management
• Course: GMGT 1010
• Professor: Brock V.Cordes

Document Summary

Balance of trade: a nations ratio of exports to imports. Trade surplus: a favorable balance of trade; occurs when they value of a country"s exports exceeds that of its imports. A favorable balance of payments has more money flowing into the country than out. Trade deficit: an unfavorable balance of trade; occurs when the value of a country"s imports exceeds that of its exports. An unfavorable balance of payments has more money flowing out of the country than in. Balance of payments: the difference between money coming into a country (from exports) and money leaving the country (for imports) plus money flows from other factors such as tourism, foreign aid, military expenditures, and foreign investment. The goal is also to have more money flowing into the country than flowing out of the country. 11th in the world as leading importer in world merchandise trade. We are dependant on one country the usa.