Question : Which of the following is not a type of balance of payments surplus or deficit?

Option 1: Trade surplus or deficit

Option 2: Current account surplus or deficit

Option 3: Capital account surplus or deficit

Option 4: Service account surplus or deficit

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 : 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 : ___________ is the difference between a country's exports and imports of goods and services.

Option 1: Trade deficit

Option 2: Trade surplus

Option 3: Balance of payments

Option 4: Current account

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