The balance of trade (exports minus imports)is the most important component of the current account in the U.S.balance of payments.

Question

Quizplus · Accepted Answer

The balance of trade is indeed the most important component of the current account in the U.S. balance of payments, as it measures the difference between exports and imports of goods and services. Other components of the current account include income received from abroad, such as dividends and interest, and transfers, such as foreign aid and remittances.

The Balance of Trade (Exports Minus Imports)is the Most Important