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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is the balance of trade?
💡 Hint: Think about how much a country sells versus buys.
Question 2
Easy
What is a favourable balance of trade?
💡 Hint: This indicates economic benefit.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What implies a favourable balance of trade?
- Exports exceed imports
- Imports exceed exports
- Imports and exports are equal
💡 Hint: Think about what situation is advantageous for a country.
Question 2
True or False: A trade deficit occurs when exports exceed imports.
- True
- False
💡 Hint: Focus on the definitions of surplus and deficit.
Solve 2 more questions and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
Create a fictional country with given export and import figures: $100 billion in exports and $120 billion in imports. Analyze the economic implications.
💡 Hint: Consider how imports exceeding exports affects national health.
Question 2
Evaluate how a policy designed to boost exports by 20% impacts the balance of trade assuming imports remain constant.
💡 Hint: Calculate new balances using the percentage increase.
Challenge and get performance evaluation