Asked by
Alexandros Stathopoulos
on Dec 16, 2024Verified
The balance of goods and services is:
A) the same as the merchandise trade balance since services cannot be traded.
B) equivalent to the trade balance.
C) the value of all tangible and intangible products exported minus the value of all tangible and intangible products imported.
D) the value of all tangible products exported minus the value of all tangible products imported.
E) the value of all tangible products exported minus the value of all tangible products imported,and the transactions to finance the difference.
Balance of Goods
The difference in value between a country's imports and exports of physical products.
Tangible Products
Physical items that can be seen, touched, and used, as opposed to services or digital products.
Intangible Products
Non-physical goods or services such as intellectual property, consulting, and insurance, that cannot be seen, touched, or physically measured.
- Gain insight into the constituents of a nation's commercial exchange balance.
- Identify the differences between material and immaterial products in international trade.
Verified Answer
SM
Learning Objectives
- Gain insight into the constituents of a nation's commercial exchange balance.
- Identify the differences between material and immaterial products in international trade.