Question

If exports ______________, then the economy is said to have a trade surplus. question 4 options: equal imports exceed imports precede imports follow imports

Answer 1

Generally, when the exports exceeds imports then the economy is said to have a trade surplus.

What is a trade surplus?

This refers to the economic situation whereby one country sells more goods to other countries than it buys that is, when the exports exceed imports.

Hence, the trade surplus occurs when a country exports more than it imports such as when the difference between exports and imports is positive.

A very good illustration of trade surplus is if the United States were to export $1 trillion worth of goods and import only $200 billion worth of goods, then, it would have an $800 billion trade surplus.

Hence, when the exports exceeds imports then the economy is said to have a trade surplus.

Therefore, the Option B is correct.

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