The difference between the value of nation's visible and invisible exports and visible and invisible imports is called as __________.

balance of trade

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balance of payment

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balance of capital account

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balance of current account

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Solution

The correct option is C balance of trade
The difference between the value of exports and imports is called balance of trade.

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Similar questions

Q. Match the items of List-I items in List-II and select a correct code:

List-I	List-II
(a) Current Account	(i) Official Capital
(b) Capital Account	(ii) Reserves from foreign countries
(c) Unilateral Payments	(iii) Reparations
(d) Official Statement Account	(iv) Visible and invisible exports and imports

Q. Identify the following items as visible or invisible:
(a) Export of jute; (b) Export of software services.

Q. Assertion: Export and Import of goods (visible items) and Export and Import of services (invisible items) will be recorded in the current account of BOP.

Reason: These transactions do affect assets and liabilities of the parties involved.

[0.80 marks]

(a) The balance of visible trade is 4000 crores and the balance of invisible trade is 25,000 crores. If the value of imports of services is 7000 crores, what will be the value of export of services?

(b) State the following true or false:

(i) Accommodating items are undertaken in order to balance the BOP account.

(ii) Foreign exchange received on account of textile will be recorded on the capital account of BOP.

(iii) Autonomous items are also known as " Below the line items''.

Q. The difference between visible exports and visible imports is defined as ___________.

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The difference between the value of nation's visible and invisible exports and visible and invisible imports is called as __________.

The correct option is C balance of tradeThe difference between the value of exports and imports is called balance of trade.

The correct option is C balance of trade
The difference between the value of exports and imports is called balance of trade.