ECONOMICS
BALANCE OF PAYMENTS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
1, 300 crore
|
|
|
300 crore
|
|
|
1, 100 crore
|
|
|
1, 200 crore
|
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: -If imports exceed exports, the country or area has a trade deficit and its trade balance is said to be negative.
Detailed explanation-5: -Trade Deficit=Value of Imports-Value of Exports It includes various goods and services exported and imported by the government, like machinery, cars, consumer goods.