What refers to a country's trade in visible items with other countries?

Capital Account

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Balance of Payment

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Balance of Trade

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Current Account

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Solution

The correct option is C Balance of Trade
The balance of trade is the difference between the value of a country's imports and exports for a given period. The balance of trade is the largest component of a country's balance of payments. The balance of trade is also referred to as the trade balance or the international trade balance.

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Q. Trade barriers usually refer to the designed to restrict international trade with other countries.

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

(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. Current account records receipts and payments of transactions relating to visible items only.

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