Question

Statements incorrect in relation to Balance of Trade:

1. It is also referred to as international trade balance.
2. Trade surplus arises when export value is greater than import value.
3. Trade deficit takes place when import value is greater than export value
4. Balance of trade includes value of imports and exports of visible goods only

Options

• Only d

• Only a

• b, c, d

• a, b, c

Answer 1

Only d