The Difference Between a Country's Balance of Payments on Goods

question 89

Multiple Choice

The difference between a country's balance of payments on goods and services and the merchandise trade balance is that:

• A) the merchandise trade balance does not include exports and imports of services.
• B) the balance of payments does not include exports and imports of services.
• C) the merchandise trade balance does not include imports of goods and services.
• D) the balance of payments does not include imports of goods and services.

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Definitions:

Exclusive Range

A numerical interval that does not include its endpoint values, indicating values sandwiched between but not equal to the specific limits.

Variance

A measure of how much values in a data set differ from the mean, calculated as the average of the squared differences from the mean.

Standard Deviation

An indicator of the extent of variability or spread within a data set, showing how far from the average the values range.

Deviations

Differences from a central value, such as the mean or median, indicative of variability within a data set.