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The quantities of goods and services exported and imported are recorded in the balance of payments a. True b. False

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter23: The International Trade And Capital Flows

Section: Chapter Questions

Problem 4SCQ: In what way does comparing a countrys exports to GDP reflect its degree of globalization?

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3. The quantities of goods and services exported and imported are recorded in the balance of payments a. True b. False

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Help please
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If the value of exports are 11,000 and value of imports are 1500 find the balance of trade?
Please solve and show steps. I do not understand how 10 Billiong, -12billion is the answer.
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1. Which of the following falls under the current account of the Philippines? a. The value of the Philippines' export of goods increased due to the increase in demand from China. b. The value of the Philippines' import of goods increased due to a high domestic demand for raw materials. c. Both a and b d. None of the above 2. What is the difference between current account and financial account? a. Current account measures the difference between import and export while financial account measures sales of import and export. b. Current account measures transactions that do not create liabilities while financial account measures those that do. c. Current account measures transactions that create liabilities while financial account measures those that don't. d. None, they are the same. 3. Which of the following statements is correct? a. There is trade surplus when import equals export. b. There is trade surplus when export equals import. c. There is trade deficit when export is greater than…
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