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What is called the difference between ex...

What is called the difference between exports and imports ?

A

assets and liabilities

B

balance of payment

C

GDP

D

balance of trade

Text Solution

Verified by Experts

The correct Answer is:
d

The difference between exports and imports is called the balance of trade. If imports are greater than exports, it is called an unfavourable balance of trade. If exports exceed imports, it is called a favourable balance of trade.
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Knowledge Check

  • _______ refers to the difference between exports and imports of visible items.

    A
    Balance of payments
    B
    Balance of trade
    C
    Both (a) and (b)
    D
    Neither (a) nor (b)
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    A
    Balance of payments
    B
    Balance of trade
    C
    both (i) and (ii)
    D
    neither (i) nor (ii)
  • What is the average of absolute difference between exports and Imports during the five financial years?

    A
    266
    B
    260
    C
    264
    D
    256
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