Answer: Balance of Trade
Explanation:
<em>Balance of trade</em> is the difference between the value of exports from a country and the value of imports into the country. When the value of exports is greater than imports, the balance of trade is positive and the country has a <em>trade surplus</em>. While, when the value of exports is less than the value of imports, the balance of trade is negative and the country has a <em>trade deficit</em>.
In this case, Wichasha's exports is higher than the total value of its imports so, it has a trade surplus or positive balance of trade.
Answer:
Matches, and log wood I'm guessing
Answer:
To make sure they have experience and know what they are doing
Under the rule of 70, if the GDP per capita growth rate in the United States is 2.3%, standards of living double every 70/2.3 = 30.43 years.
<h3>What is Gross Domestic Product (GDP)?</h3>
The term "Gross Domestic Product," or GDP, refers to the total monetary worth of all finished goods and services produced (and marketed) within a nation within a specific time period (typically 1 year).
GDP Growth Rate:
- The GDP growth rate compares the most recent quarter or year to the preceding one and represents the percentage change in real GDP (GDP adjusted for inflation) from one period to the next.
- A positive or negative number may be used (negative growth rate, indicating economic contraction).
GDP per capita:
- By dividing nominal GDP by a nation's entire population, one can get GDP per capita.
- It conveys the nation's average economic output (or income) per person.
- The population figure corresponds to the year's median (or mid-year) population.
The price deflator, a statistical tool, is used to convert nominal GDP to constant prices.
To know more about Gross domestic product (GDP), here
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Definition of discretionary expenses : The cost that does not essential for your daily life operation or business
Example of discretionary expenses :
- I may buy paint to give color for my toenails
- A business hire some entertainers for its employees to gain their goodwill
