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.
 

Question : _________ refers to difference between the amount of exports and imports of goods.
 

Option 1: Balance of payment
 

Option 2: Balance of trade
 

Option 3: Accommodating items
 

Option 4: Autonomous items.
 

Question : The difference in the value of visible exports and visible imports is called :

Option 1: Balance Sheet of items

Option 2: Balance of Payments

Option 3: Balance of Trade

Option 4: Balance of Account

Question : What is the term used to describe the total value of a country's exports minus the total value of its imports?

Option 1: Trade deficit
    

Option 2: Trade surplus
  

Option 3: Balance of Trade

Option 4: Capital account balance

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