Net earnings from foreign transactions is symbolically expressed as _____________.

X - M

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X - I

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G - M

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M - X

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Solution

The correct option is A $X - M$
Import refers to purchasing of goods and services from international market in the country and export refers to selling goods and services in the international market. So export(X) is an income for the country whereas import(M) is an expense for the country. Therefore, the net earnings from the trade of a country is the excess of exports over import which is symbolically expressed as X-M.

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