ECONOMICS
BALANCE OF PAYMENTS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Balance of trade is Rs (-) 150crs and value of exports are Rs 350 crs.In this case value of imports will be
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Rs 200crs
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Rs 300crs
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Rs 400 crs
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Rs 500crs
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Explanation:
Detailed explanation-1: -Imports = Exports-Balance of Trade = 500-(-600) = 1, 100. Q.
Detailed explanation-2: -So, Imports = Exports-Balance of trade = 300−(−)400=Rs. 700 crores.
Detailed explanation-3: -Balance of trade (BOT) = Value of Exports − Value of Imports Where, BOT is the Balance of trade or trade balance. Value of exports is the value of goods that are exported out of the country and sold to buyers of other countries.
Detailed explanation-4: -What is the Formula for Balance of Payments? The formula for calculating the balance of payments is current account + capital account + financial account + balancing item = 0.
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