The balance of trade is the
A)difference between the monetary value of a nation's exports and imports.
B)sum of the monetary value of a nation's exports and imports.
C)monetary value of a nation's exports divided by its imports.
D)surplus that occurs when nations engage in exporting.
E)difference between a country's services and goods exports.

Question

Quizplus · Accepted Answer

The balance of trade is defined as the difference between the monetary value of a country's exports and imports. This includes both goods and services. Therefore, option A is the correct answer. Option B is the total trade, not the balance, option C is the ratio of exports to imports, option D is a vague definition, and option E only refers to exports, not the balance.

The Balance of Trade Is the