The balance of trade is the
A) difference between the monetary value of a nation's exports and imports.
B) sum of the monetary value of a nation's exports and imports.
C) monetary value of a nation's exports divided by its imports.
D) surplus that occurs when nations engage in exporting.
E) state of equilibrium when two neighboring nations participate in countertrade.

Question

Quizplus · Accepted Answer

The balance of trade is defined as the difference between the monetary value of a nation's exports and imports. It indicates whether a country has a trade surplus or deficit.

The Balance of Trade Is the