When the value of exports exceeds the value of imports then
A) changes in productivity will occur.
B) international trade is in balance.
C) the country is running a trade deficit.
D) the country is running a trade surplus.
When the balance of trade is in balance, we know with certainty that
A) the value of all debit transactions equals the value of all credit transactions.
B) the value of exports of goods equals the value of imports of goods.
C) the value of capital exports equals the value of capital imports.
D) the value of exports of goods and services equals the value of imports of goods and services.
For the United States, suppose the value of exported goods is greater than the value of imported goods. This implies that
A) the domestic currency will depreciate.
B) the dollar price of foreign currency will increase.
C) the country is running a deficit in its balance of trade.
D) the country is running a surplus in its balance of trade.
A summary of a country's economic transactions with foreign residents and governments is called the
A) current account balance.
B) capital account balance.
C) balance of trade.
D) balance of payments.