Balance of Trade

Q.

What is the full form of BOT?

Q. is the difference between the monetary values of exports and imports of a country.

1. Balance of payment
2. Balance of trade
3. Balance on account
4. Balance of exchange

Q.

What are the problems of balance of payment?

Q. Imports > Exports =

(BoT refers to Balance of Trade, and BoP refers to Balance of Payments)

1. Unfavourable BoT
2. Favourable BoT
3. Unfavourable BoP
4. Favourable BoP

Q. In 2019, India had a favourable balance of trade.

1. True
2. False