5.3 The balance of trade refers strictly to the import and export of goods (merchandise) from/to other

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5.3 The balance of trade refers strictly to the import and export of goods (merchandise)

from/to other nations. If our imports of foreign goods are greater than our exports, we are said to have a balance-oftrade defi cit.

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Survey Of ECON

ISBN: 9780538478090

1st Edition

Authors: Robert L. Sexton

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