The difference between the total value of a country's
Exports and the total value of its imports is defined as the
Country's:

Question

Quizplus · Accepted Answer

The difference between a country's exports and imports is known as its trade balance. It can either be in surplus (where exports exceed imports) or in deficit (where imports exceed exports). Therefore, option B is the correct choice. A) Trade status is too broad and doesn't accurately describe the difference between exports and imports. C) Trade deficit is similar to trade balance but only applies when imports exceed exports, and D) bilateral trade balance refers to the balance of trade between two countries.

The Difference Between the Total Value of a Country's