Balance of trade can be defined as?

A. the value of import in relation to the value of a country’s exports
B. the price ratio of imports as against that of exports
C. equality in the total receipts and payments of a country in a year
D. percentage value of imports over the percentage value of exports
E. price of exports versus the price of imports

Correct Answer:

Option A – the value of import in relation to the value of a country’s exports