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    Question

    Balance of trade is the

    _______________.
    A Difference between export and import of services Correct Answer Incorrect Answer
    B Total export and import of services Correct Answer Incorrect Answer
    C Difference between export and import of goods Correct Answer Incorrect Answer
    D Total export and import of goods Correct Answer Incorrect Answer

    Solution

    Balance of trade refers to the difference between the value of goods (exports) a country sells to other countries and the value of goods (imports) it buys. It provides insights into a nation's trade performance in terms of tangible items.

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