If Japan's total exports are $12 billion and total imports are $4 billion, then this is called
A) a trade deficit.
B) a positive balance of trade.
C) an absolute advantage.
D) a negative balance of payments.
E) negative capital mobility.

Question

Quizplus · Accepted Answer

When the total value of a country's exports exceeds the value of its imports, it is called a positive balance of trade. In this case, Japan's total exports of $12 billion exceed its total imports of $4 billion, indicating a positive balance of trade.

If Japan's Total Exports Are $12 Billion and Total Imports