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What is the balance of trade?
  • a)
    The difference between a country's exports and imports
  • b)
    The total value of all goods and services produced in a country
  • c)
    The rate at which one currency can be exchanged for another
  • d)
    The amount of money a country owes to foreign creditors
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
What is the balance of trade?a)The difference between a countrys expor...
The balance of trade is the difference between the value of a country's exports (goods and services sold to other countries) and its imports (goods and services purchased from other countries) over a specific period. If exports exceed imports, there is a trade surplus, and if imports exceed exports, there is a trade deficit.
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What is the balance of trade?a)The difference between a countrys exports and importsb)The total value of all goods and services produced in a countryc)The rate at which one currency can be exchanged for anotherd)The amount of money a country owes to foreign creditorsCorrect answer is option 'A'. Can you explain this answer?
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