State whether the following statements are true or false. Give reasons for your answer:

Question 1

(i) Difference between value of exports and imports of goods and services is called Trade Balance.

(ii) External assistance is not recorded in Balance of Payments Account.

Question 2

(i) False. Difference between the value of exports and imports of goods and services is called Balance of Payment not Balance of Trade.

(ii) False. It is a part of Balance of Payments or external assistance is recorded in Balance of Payments Account.

kratos · Answer 1 · 2021-03-14T14:43:57+0000

(i) False. Difference between the value of exports and imports of goods and services is called Balance of Payment not Balance of Trade.

(ii) False. It is a part of Balance of Payments or external assistance is recorded in Balance of Payments Account.

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