The record of country’s imports and exports of goods is called its ?

Related Mcqs:

1. What is called the difference in the value of a nation’s imports over exports or exports over imports ?

   A. Trade deficit
   B. Trade simples
   C. Both a & b
   D. Not a nor b

2. The record of country’s imports and exports of goods and services is called its ?

   A. visible trade balance
   B. balance of trade
   C. balance of payments on current account
   D. balance of payments.

3. The record of a country’s imports and exports of of goods and services plus net investment incomes and current transfers of money to and from abroad, is called its ?

   A. balance of payments on current account
   B. visible trade balance
   C. balance of trade
   D. balance of payments

4. S = Savings, I = domestic investment, X = exports of goods and services, and M = imports of goods and services Which of the following is true ?

   A. S – I = X = M
   B. S + I = X + M
   C. S = I – (X+M)
   D. S-I = X/M

5. A tax on imports exports, or consumption goods is called ?

   A. Drawback
   B. Duty
   C. Custom
   D. Excise

6. The differences between a country’s merchandise exports and its merchandise imports is the ?

   A. balance of payments
   B. capital account
   C. current account
   D. balance of trade

7. The situation when a country imports more than it exports is ?

   A. a recession
   B. a trade surplus
   C. a trade deficit
   D. an expansion.

8. For the United states, exports plus imports are about _____ of its gross national product?

   A. 5 percent
   B. 10 percent
   C. 25 percent
   D. 55 percent

9. What is called a Tax on imports, exports ?

   A. Drawback
   B. Duty
   C. Custom
   D. Excise

10. Government levy tax on imports and exports What this tax is called ?

    A. Custom
    B. Exercise Duty
    C. Tariff
    D. Freight