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Question
Assertion (A): Balance of trade is also referred to as Balance of payments.
Reasoning (R): Balance of trade includes the value of imports and exports of visible goods and invisible goods.
Options
(A) is True but (R) is False.
(A) is False but (R) is True.
Both (A) and (R) are True and (R) is the correct explanation of (A).
Both (A) and (R) are True and (R) is not the correct explanation of (A).
Solution
(A) is False but (R) is True.
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RELATED QUESTIONS
Distinguish between Balance of payments and Balance of trade.
Statements incorrect in relation to Balance of Trade:
- It is also referred to as international trade balance.
- Trade surplus arises when export value is greater than import value.
- Trade deficit takes place when import value is greater than export value
- Balance of trade includes value of imports and exports of visible goods only
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The balance of Payment is the same as the Balance of Trade.
Balance of Trade and Balance of Payment are two different concepts.
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Balance of payments and Balance of trade.
Distinguish between the following:
Internal trade and International trade.
Distinguish between the following:
Balance of payments and Balance of trade.
Distinguish between the following:
Balance of payments and Balance of trade.
Distinguish between the following:
Balance of payments and Balance of trade
Balance of payments and Balance of trade.
Distinguish between Balance of payments and Balance of trade.
Distinguish between the following:
Balance of payments and Balance of trade.
Distinguish between the following:
Balance of payments and Balance of trade.
Distinguish between the following:
Balance of payments and Balance of trade.
Distinguish between the following:
Balance of payments and Balance of trade
