Beancent4life Beancent4life

25-06-2024
Social Studies

Answered

A country's level of trade is synonymous with its balance of trade.

Select the correct answer below:

A. True
B. False

Answer :

GinnyAnswer GinnyAnswer

25-06-2024

Final answer:

The level of trade and the balance of trade are distinct concepts that measure different aspects of a country's trade activities.

Explanation:

A nation's level of trade can differ from its balance of trade. The level of trade is about the percentage of exports in relation to the GDP, showing how much a country exports. In contrast, the balance of trade focuses on the difference between a country's exports and imports, indicating a surplus or deficit.

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