ECONOMICS
BALANCE OF TRADE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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300 AND 4700
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250 AND 500
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300 AND 620
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150 AND 230
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Detailed explanation-1: -Net Exports = Value of Exports – Value of Imports Where, Value of Exports = Total value of foreign countries spending on the goods and services of the home country.
Detailed explanation-2: -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-3: -The ratio is calculated by dividing the price of the exports by the price of the imports and multiplying the result by 100. When more capital is leaving the country than is entering the country then, the TOT will be less than 100%.
Detailed explanation-4: -Net exports = Total exported goods and services-Total imported goods and services. Net exports as GDP percentage = (Net exports in dollar amount / GDP) x 100. Net imports = Total imported goods and services-Total exported goods and services. 03-Feb-2023