Britain had a ‘trade surplus’ with India. Britain used this surplus to balance its trade deficits with other countries – that is, with countries from which Britain was importing more than it was selling to. What is this system called?
A. Trade Surplus System
B. Deficit Balance System
C. Multilateral Settlement System
D. Trade Settlement System
Answer:C
Britain had a ‘trade surplus’ with India. Britain used this surplus to balance its trade deficits with other countries – that is, with countries from which Britain was importing more than it was selling to. What is this system called?
A. Trade Surplus System B. Deficit Balance System C. Multilateral Settlement System D. Trade Settlement System