Balance of payments is a ____ concept than balance of trade.
A) more difficult
B) less difficult
C) nearly identical
D) Broader
E) Narrower

Question

Quizplus · Accepted Answer

Balance of payments is a broader concept than balance of trade. Balance of trade only covers goods and services trade while balance of payments covers all economic transactions between a country and the rest of the world, including trade in goods and services, income flows, and transfers of capital.

Balance of Payments Is a ____ Concept Than Balance of Trade