The difference between what a country receives and pays for its exports and imports of goods.*1 pointbalance of paymentseconomies of scalenew trade theorybalance of tradecomparative cost principle

The difference between all the monetary transactions between two countries.*1 pointbalance of paymentsnew trade theorycomparative cost principleeconomies of scalebalance of trade

If a country’s annual imports are $500 billion and its exports are $200 billion, the difference between the two representsMultiple Choicethe budget deficit.the country’s gross domestic product.the balance of trade.the country’s capital gains.

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

A country exports goods and services valued at $300 million in a year. During that same year, the country imports goods and serves valued at $400 million. Which conclusion best describes the country's balance of trade?A.The country has established a comparative advantage.B.The country has a trade deficit.C.The country has established an absolute advantage.D.The country has a trade surplus.

Multiple Choice QuestionWhat is the name for the difference between a country's exports and imports of goods?Multiple choice question.Capital accountBalance of trade on goodsTotal exportsFinancial account