The total flow of money into a country less the total flow of money out of the country over some period of time is called the nation's balance of trade.

Question

Quizplus · Accepted Answer

The total flow of money into a country less the total flow of money out of the country is called the balance of payments, not the balance of trade. The balance of trade specifically refers to the difference between the value of a country's exports and imports of goods.

The Total Flow of Money into a Country Less the Total