BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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assets and liabilities
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balance of payment
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GDP
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balance of trade
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Detailed explanation-1: -B. Balance-The difference between exports and imports. A positive balance is called a surplus. A negative balance is called a deficit.
Detailed explanation-2: -The trade balance is the difference between the value of the goods that a country (or another geographic or economic area such as the European Union (EU) or the euro area) exports and the value of the goods that it imports.
Detailed explanation-3: -Balance of trade (BOT) is the difference between the value of a country’s exports and the value of its imports for a given period.
Detailed explanation-4: -Balance of trade (BoT) is the difference that is obtained from the export and import of goods. Balance of payments (BoP) is the difference between the inflow and outflow of foreign exchange. Transactions related to goods are included in BoT.