Which of the following is correct with regard to the balance of trade and the balance of payments?
If a country has a favourable balance of trade, it will also have a favourable balance of payments.
The balance of payments is computed by dividing the value of a country's currency by the number of currency transactions that took place in the previous year.
A country that imports more than it exports has a favourable balance of trade.
Countries used to strive to have a favourable balance of trade, but governments no longer worry about that issue because of globalization.
Canada has generally had a favourable balance of trade during the last few decades.

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The Answer of Which of the following is correct with regard to the balance of trade and the balance of payments?
If a country has a favourable balance of trade, it will also have a favourable balance of payments.
The balance of payments is computed by dividing the value of a country's currency by the number of currency transactions that took place in the previous year.
A country that imports more than it exports has a favourable balance of trade.
Countries used to strive to have a favourable balance of trade, but governments no longer worry about that issue because of globalization.
Canada has generally had a favourable balance of trade during the last few decades.

Which of the Following Is Correct with Regard to the Balance