The Balance of Trade Is

question 56

Multiple Choice

The balance of trade is

• A) the difference between exports and imports of goods and services.
• B) the difference between exports and imports of services.
• C) the summary record of a country's economic transactions with foreigners in a year.
• D) none of the above.

---

Definitions:

Original Treatment

This could refer to the initial set of conditions or interventions in an experiment or study, especially before any variables are changed for further testing.

Compensating Differential

A difference in wages that arises from non-monetary characteristics of different jobs, such as risk or undesirable location.

Baker

A person who primarily bakes and sells bread, pastries, and other baked goods as their profession.

Long Hours

The situation of working a significantly larger number of hours than the standard working time, often leading to stress and health issues.