Q709
Distinction between overall exports and imports is related to
A.
factor income
B.
transfer Payments
C.
balance of trade
AnswerD.
account balance
Answer: Option C
Solution
Answer: Option C
Solution:
Distinction between overall exports and imports is related to balance of trade. The balance of trade is the difference between the value of a country's imports and exports for a given period. The balance of trade is the largest component of a country's balance of payments. Economists use the BOT to measure the relative strength of a country's economy.