The Difference Between the Value of the Goods a Country

question 146

Multiple Choice

The difference between the value of the goods a country exports and the value of the goods a country imports is the country's

• A)financial account balance.
• B)current account balance.
• C)balance of trade.
• D)capital account balance.

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Definitions:

Task Specialization

The process in which different individuals or groups in a society become experts in specific work tasks, contributing to efficiency and skill development.

International Division

The separation of tasks, production, or industries among various nations, often based on economic factors or specialized skills.

Tourism

The practice of traveling to and exploring places of interest for leisure, recreation, or cultural experiences.

Car Manufacture

The process of designing, producing, and selling motor vehicles, an industry that involves a range of technologies and is crucial to global economics.