If the value of goods and services exported from Australia is smaller than the value of goods and services imported, then:
A)Australia's balance of payments will be in deficit.
B)Australia's balance of trade on goods and services will be in deficit.
C)Australia will have a current account surplus.
D)Australia will have a financial account deficit.

Question

Quizplus · Accepted Answer

Australia's balance of trade on goods and services will be in deficit if the value of exports is smaller than the value of imports. This measures the difference between what a country exports and what it imports.

If the Value of Goods and Services Exported from Australia