Describe how the balance of trade and foreign debt affect a country's economy.

jessiecraane

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6 years ago

Describe how the balance of trade and foreign debt affect a country's economy.

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yuenc

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6 years ago

The balance of trade is the difference between exports and imports. A trade deficit results when imports exceed exports. An ongoing trade deficit creates foreign debt. Foreign debt must be paid from future income, which limits funds available for improving a country's infrastructure and for providing services to citizens in the future.

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jessiecraane Author

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6 years ago

I know you spent a lot of time finding this because I swear it wasn't in my textbook

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