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1 mark

What is the term for the difference between a country's exports and imports?

  1. A
    Fiscal deficit
  2. B
    Budget surplus
  3. C
    Revenue deficit
  4. D
    Balance of Trade

Solution & Step-by-step Explanation

The Balance of Trade (BoT) represents the net difference between the monetary value of a country's exports and imports of tangible goods (and services depending on definition scope) over a specific time period.

Practice this question

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What is the term for the difference between a country's exports and imports?
A
Fiscal deficit
B
Budget surplus
C
Revenue deficit
D
Balance of Trade

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economicsmacroeconomicsinternational_trade

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