Question Completion Status: If imports exceed exports, as in recent years, then

Question

Question Completion Status: If imports exceed exports, as in recent years, then O trade disequilibrium O a trade imbalance O a trade surplus O a trade deficit QUESTION 7 10.00000 point reflects changes in economic activity, particularly real GDP. The stages of a business cycle are O expansion, trough, recession, peak O expansion peak, recession, trough O trough, expansion, recession, peak O contraction, recession, expansion, boom 5.00000 points (Extra Credit) QUESTION 8 refers to the The nominal value of any economic statistic refers to the number that is actually announced at that time, while the statistic after it has been adjusted for inflation. net value O adjusted value O real value

Explanation / Answer

Q1. Option D.

A trade deficit is said to occur when the value of a country's

Imports exceed its exports usually for a year.

Q2. Option b. Is correct

Each business cycle has Four phases

They are:-.  

Expansion

Peak

Recession

Trough

Q3. Option C is correct

Real value.

While the nominal value of any

Economic statistics means

That the statistics is measured

In terms of actual prices.

Then the real value refers to the same statistics after it has been adjusted for inflation.

The Real value has more importance than nominal value.

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