‘Balance of trade’ is the difference between value of export and import of services; transfers payments in a given period of time

CBSE Class 12 Economics Exam, Question 2: ____ is the difference between value of export and import of services; transfers payments in a given period of time (Fill up the blank with correct alternative)

(a) Balance of trade

(b) Net Invisibles (Services)

(c) Trade surplus

(d) Current account of BOP

The correct answer is (a) Balance of trade.

Balance of trade is the difference between the value of export and import of services; transfers payments in a given period of time.