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Question
Suppose, following data is presented, for an imaginary economy:
| Year | Visible Exports | Visible Imports |
| 2010 | 280 | 240 |
| 2020 | 580 | 460 |
Identify, which of the statement about the period 2010 to 2020 is correct?
Options
Improvement in balance of trade
Increase in trade deficit
Improvement in balance in invisibles items
Deterioration of balance of trade
MCQ
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Solution
Improvement in balance of trade
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