Question
Download Solution PDFWhen exports are higher than imports, it is known as a situation of ________.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is trade surplus.
Key Points
- Trade Surplus:-
- A trade surplus occurs when a country sells more goods and services to other countries than it buys from them.
- This means that money is flowing into the country from abroad.
- When exports are higher than imports, it is also known as a situation of Trade Surplus
- A trade surplus can have a number of positive effects on an economy, such as boosting economic growth, creating jobs, and increasing the value of the country's currency.
Additional Information
- Trade Deficit:-
- A trade deficit occurs when a country imports more goods and services than it exports.
- It is calculated by subtracting the value of a country's exports from the value of its imports.
- A trade deficit can be a sign of a strong economy, as it indicates that consumers have sufficient resources to purchase more goods than are produced domestically.
- Fiscal Deficit:-
- A fiscal deficit occurs when a government spends more money than it collects in revenue.
- It is calculated by subtracting total government revenue from total government expenditure.
- A fiscal deficit can be financed by borrowing money from domestic or foreign sources, or by printing money.
- Revenue Surplus:-
- A revenue surplus occurs when a government collects more revenue than it spends.
- It is calculated by subtracting total government expenditure from total government revenue.
- A revenue surplus can be used to pay down debt, invest in public goods and services, or provide tax cuts.
Last updated on Jun 6, 2025
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