Question

Which of the following describes the total economic value of all the products that a country​ exports, minus the economic value of all the products that it​ imports?

A. Gross Domestic Product (GDP)
B. Balance of Trade
C. Trade Surplus
D. Net Exports

Answer 1

The trade balance, also known as the balance of trade, describes the total economic value of a country's exports minus its imports.

Step-by-step explanation:

The total economic value of all the products that a country exports, minus the economic value of all the products that it imports, is known as the trade balance. It is also referred to as the balance of trade. The trade balance is calculated by subtracting the value of imports from the value of exports (X - M).