Describe the changes that occured in europe durring the 1500's. how could a nation attain a favorible balance of trade?
In order to calculate the balance of trade, you must calculate the difference between a country's imports and exports. The goal is to have a surplus. In this situation, the value of a nation's exports is higher than the import's value. A truly wealthy nation has a large surplus, and maintains a high level of valuable export trade. ChaCha!
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