Balance of Trade is measured as:
the difference between export and import of goods
Balance of Trade (BOT) is defined as the difference between a country's exports and imports of goods over a certain period. It does not include services. Therefore, the correct answer is: the difference between export and import of goods.
Important Questions from Balance of payments (BOP)
The Balance of Payment Account of an economy is related to the ________.
Which of the following statements is INCORRECT?
Indicate the correct code of the following statements being correct or incorrect. The statements relate to the type of transactions recorded in the current/capital accounts of the Balance of Payments.
Statement (I): The capital account consists of long-term capital transactions only.
Statement (II): The current account includes all transactions which give rise to or use up national income.
The items on the capital account of Balance of Payments are:
Improvement in the balance of payments deficit may be effected through:
A. Import controls
B. Export promotion
C. Foreign exchange control
D. Devaluation
Choose the correct answer from the options given below:
