The Difference Between a Country's Exports and Its Imports of Goods

question 165

Multiple Choice

The difference between a country's exports and its imports of goods and services is known as the:

• A) trade balance.
• B) balance of payments on goods and services.
• C) balance of payments on the current account.
• D) balance of exchange.

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Definitions:

Duty

An obligation or responsibility expected of an individual or entity.

Patterns of Activity

Regular behaviors or actions that are characteristic of an individual or group, usually observed over a period of time.

Everyday Activities

Routine actions or tasks that individuals perform in their daily lives.

Social Capital

The networks, norms, and social trust that facilitate coordination and cooperation among individuals within a society or group.