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Single Answer MCQ
Q-00014383

What is a favorable balance of trade?

1

When exports exceed imports

2

When imports exceed exports

3

When trade is balanced

4

When trade is variable

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Sandeep Chaturvedi

Sandeep Chaturvedi

CBSE Social Science & Humanities Reviewer

Social science and humanities educator with 14+ years of experience reviewing CBSE SST, economics, commerce, arts, and vocational content.

M.A. HistoryM.A. Political ScienceB.Ed.

Answer and Solution

Answer

A. When exports exceed imports

Solution:

A favorable balance of trade occurs when the value of exports exceeds the value of imports, signifying economic strength.

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