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Which of the following shows the difference between exports and imports of goods and services?

1. Balance of Trade
2. Capital Account
3. Surplus budget
4. Balance of Payment

Correct answer: Balance of Trade

Solution

Balance of Trade (BoT) represents the difference between a country's exports and imports of goods and services. If exports > imports = trade surplus; imports > exports = trade deficit. It is distinct from Balance of Payments, which includes capital and financial accounts too.

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