ECONOMICS
BALANCE OF PAYMENTS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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exports-imports
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exports of visibles-import of visibles
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Exports of goods and services-import of goods and services
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None of the above
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Detailed explanation-1: -The balance of trade is typically measured as the difference between a country’s exports and imports of goods. To calculate the balance of trade, you would subtract the value of a country’s imports from the value of its exports.
Detailed explanation-2: -How to Calculate It. A country’s trade balance equals the value of its exports minus its imports. Exports are goods or services made domestically and sold to a foreigner.
Detailed explanation-3: -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-4: -Balance of Trade : It refers to the total value of country’s export commodities and total value of imports commodities. Thus, balance of trade includes only visible trade, i.e., movement of goods (exports and imports of goods).