Question

The country of East Anglia exports domestically made products and imports products that aren't available locally. When exports are compared to imports, the resulting _____, which shows that more dollar value is exported than imported, reveals a(n) _____.

Answer 1

Balance of trade; trade surplus.

Step-by-step explanation:

When there exists a difference between export and import, it is called the balance of trade. As the country of East Anglia exports products and imports products domestically, and there is a comparison between the country's imports and exports, it results in the balance of trade.

When a country's export is more than its imports, it refers to a trade surplus. According to the question, the country has more export than imports.