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- Subject
- The Balance of Paymentseconomics-mcqs › the-balance-of-payments
- Published
- 27 May 2019
- Last updated
- 28 May 2026
Explanation
A trade deficit occurs when a country imports more goods than it exports, meaning it purchases a larger quantity of products from abroad than it sells to other countries.
More The Balance of Payments MCQs
Practice related questions from the same subject.
- 1.Which of the following statements about the balance of payments is accurate?
- 2.What term describes the difference between a nation's exports and imports of goods?
- 3.What is required to reconcile discrepancies in the balance of payments accounts?
- 4.What does the balance of trade specifically measure?
- 5.Which economic pattern is commonly observed in countries during the initial phases of rapid economic growth?
- 6.What does a surplus in the current account indicate about a country?
- 7.What does it indicate when a country has a current account deficit?
- 8.How does a country's balance of payments differ from its balance of international indebtedness?
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