The ________ is the total value of a nation's exports compared to its imports measured over a specific period of time.
A) balance of payments
B) balance of trade surplus
C) balance of trade deficit
D) balance of trade

Question

Quizplus · Accepted Answer

The balance of trade refers to the difference between a country's total value of exports and imports of goods and services over a specific period, usually a year. It's an important indicator of a country's economic health, and it's used to measure the competitiveness of a country in the global market. A positive balance of trade, or a trade surplus, means that a country is exporting more than it is importing, while a negative balance of trade, or a trade deficit, means that a country is importing more than it is exporting. The balance of payments refers to a broader measure of a country's economic transactions with the rest of the world, including not only exports and imports of goods and services but also financial transactions and transfers.

The ________ Is the Total Value of a Nation's Exports