difference between money paid to and money received from other nations in trade is called balance of trade.

question 9 options:
true
false

Difference between money paid to and money received from other nations in trade is called balance of trade is a TRUE statement.

Explanation:

The difference between the export and the import done by the country is usually termed as the balance of trade. Even though the sum of payments and receipts is necessarily equal, in different types of transactions there will be disparities — excesses of transactions and receipts, named deficits and surpluses.

Trade balance does not include any goods (not even product import and export). For example, China, a nation where many of the globe's consumer goods are manufactured and exported, has registered a trade surplus since 1995. Because of its dependence on oil imports and consumer goods, the United States has shown a trade deficit since 1976.

answer; /// blank(1); increases; blank(2); decreases;

answer; private store;