Which of the Following Is the Best Description of the Balance

question 164

Short Answer

Which of the following is the best description of the balance of trade?
The total of a nation's revenues from income taxes minus its expenditures on goods and services
Changes in currency values and price changes
The profitability of business firms that are exporting goods and services
The total of a nation's exports minus its imports
The total value of all services provided to foreigners during a one year time period

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Definitions:

Premise

An initial statement or proposition from which conclusions are drawn or arguments are based.

Strategy

A plan of action designed to achieve a long-term or overall aim, often involving the deployment of resources in a competitive context.

Structure

The arrangement or organization of interrelated elements in a material object or system, or the organization of parts as dominated by the general character of the whole.

Bureaucratic

Relating to a system of government or organization that is managed by departments staffed with non-elected officials, often criticized for excessive procedural complexity.