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What does the term "balance of payments" refer to in foreign trade?
- a)A country's economic growth rate
- b)A country's trade surplus or deficit
- c)A country's total exports
- d)A country's overall GDP
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
What does the term "balance of payments" refer to in foreign...
The balance of payments is a record of all economic transactions made between the residents of a country and the rest of the world during a specific period. It includes trade in goods and services, investment income, and transfer payments. If exports exceed imports, the country has a trade surplus, and if imports exceed exports, it has a trade deficit.
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What does the term "balance of payments" refer to in foreign trade?a)A countrys economic growth rateb)A countrys trade surplus or deficitc)A countrys total exportsd)A countrys overall GDPCorrect answer is option 'B'. Can you explain this answer?
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What does the term "balance of payments" refer to in foreign trade?a)A countrys economic growth rateb)A countrys trade surplus or deficitc)A countrys total exportsd)A countrys overall GDPCorrect answer is option 'B'. Can you explain this answer? for SSC MTS / SSC GD 2025 is part of SSC MTS / SSC GD preparation. The Question and answers have been prepared according to the SSC MTS / SSC GD exam syllabus. Information about What does the term "balance of payments" refer to in foreign trade?a)A countrys economic growth rateb)A countrys trade surplus or deficitc)A countrys total exportsd)A countrys overall GDPCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for SSC MTS / SSC GD 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What does the term "balance of payments" refer to in foreign trade?a)A countrys economic growth rateb)A countrys trade surplus or deficitc)A countrys total exportsd)A countrys overall GDPCorrect answer is option 'B'. Can you explain this answer?.
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