Question

if a country exports a greater value of goods than it imports, it has a(n) ______.a. absolute advantageb. trade surplusc. comparative advantaged. trade deficit

Explanation:

• Absolute advantage refers to a country's ability to produce a good more efficiently than another, not related to export-import value balance.
• A trade surplus is defined as a situation where the value of a country's exports exceeds the value of its imports, matching the question's description.
• Comparative advantage refers to a country's ability to produce a good at a lower opportunity cost, not the export-import value difference.
• A trade deficit is the opposite: when imports are worth more than exports.

Answer:

B. trade surplus