Question : If a country exports are more than its import, then balance of trade is said to be in ______.
 

Option 1: Balanced
 

Option 2: Surplus
 

Option 3: Deficit
 

Option 4: None of the above.
 

Question : When a country's imports exceed its exports, it is said to have a:

Option 1: Trade deficit

Option 2: Trade surplus

Option 3: Balance of payments surplus

Option 4: Balance of payments deficit

Question : When a country's exports of goods and services exceed its imports, it is said to have a:

Option 1: Balance of payments surplus

Option 2: Balance of payments deficit

Option 3: Trade deficit

Option 4: Trade surplus

Question : When a country's imports exceed its exports, it results in:

Option 1: A trade deficit

Option 2: A trade surplus

Option 3: A balance of payments surplus

Option 4: A balance of payments deficit

Question : It refers to the excess of receipts of exports of visible items over the value of receipt of payments for imports of visible items.
 

Option 1: Trade surplus
 

Option 2: Trade deficit
 

Option 3: Balance trade
 

Option 4: None of the above.