Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter18: Trading With Other Nations
Section: Chapter Questions
Problem 16AA
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Question
Do you think a country should have more imports or exports, and explain your reasoning
Expert Solution
Step 1
Importing refers to consumption of goods or services which are not produced within the domestic boundaries of nation.
Exporting refers to domestic production of any goods and services which would be consumed by an consumer which is outside the boundary of nation.
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