| The New Dictionary of Cultural Literacy, Third Edition. 2002. |
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| balance of trade |
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| That part of the balance of payments relating to goods only (as opposed to services, monetary movements, official reserve transactions, etc.). | 1 |
| ‡ A nation whose imports are worth more than its exports is said to have an unfavorable balance of trade, or to be running a trade deficit. | 2 |
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| | | The New Dictionary of Cultural Literacy, Third Edition. Edited by E.D. Hirsch, Jr., Joseph F. Kett, and James Trefil. Copyright © 2002 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. |
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