About the trade balance is called

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Reference no: EM13974827

Suppose South Korea imports $4 billion in goods and services, and exports $2.5 billion in goods and services. South Korea’s trade balance is ____________. This trade balance is called a ____________.

$1.5 billion; trade surplus –

$1.5 billion; trade deficit

$2.5 billion; trade deficit –

$1.5 billion; trade surplus

$1.5 billion; trade deficit

Reference no: EM13974827

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