How is the balance of trade calculated?Multiple choice question.Imports/ExportsExports + ImportsImports - ExportsExports - Imports

If the value of a country's imports are $46 billion and the value of its exports are $57 billion, then what is the value of its balance of trade?Multiple choice question.–$11 billion$11 billion$103 billionCannot be determined without knowing its exchange rate.

Multiple Choice QuestionA nation's balance of trade refers to Blank______.Multiple choice question.levels of trade in various production sectorsthe difference in value between imports and exportsthe total dollar value of exportsthe total dollar value of imports

Which of the following refers to the situation when a country's imports exceed its exports? Question 10Answer a. Trade deficit b. Trade surplus c. Trade advantage d. Balance of payments e. Balance of trade

Multiple Choice QuestionHow is the balance on current account calculated?Multiple choice question.By subtracting net imports from net exportsBy adding the trade surplus to the trade deficitBy adding all transactions in the current accountBy adding all transactions on the balance-of-payments statement

Multiple Choice QuestionThe total value of a nation's exports compared to its imports measured over a particular period is the definition of ______.Multiple choice question.competitive advantagebalance of tradetrade deficitcomparative advantage