ECONOMICS
BALANCE OF PAYMENTS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following appears in the balance of trade figures?
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Short-term private capital inflow
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Exports and imports of services
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Exports of wool
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Overseas aid by Australian aid groups
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Explanation:
Detailed explanation-1: -Balance of trade (BOT) is the difference between the value of a country’s exports and the value of a country’s imports for a given period.
Detailed explanation-2: -The balance of trade is the account that details the value of exported goods and the value of imported goods. To calculate the balance of trade, the national accounts service evaluates imports and exports of goods based on customs statistics on goods.
Detailed explanation-3: -The difference between the value of a country’s exports and the value of its imports for a certain period is known as the balance of trade (BOT).
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