The ____ is the difference in value between a nation's exports and its imports.
A) net trade value
B) export/import ratio
C) gross domestic product
D) balance of payments
E) balance of trade

Question

Quizplus · Accepted Answer

The term used to describe the difference in value between a nation's exports and imports is the balance of trade. This represents the value of trade in goods and services between a country and its trading partners. The balance of payments, on the other hand, represents all transactions between a country and its trading partners, including imports, exports, and other financial transactions. Therefore, the balance of trade is the best choice for this question.

The ____ Is the Difference in Value Between a Nation's