The difference between the total payments for imports and the receipts from exports within a given period is referred to as
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Correct Answer: Option B
Explanation:
Balance of trade refers to the difference between the value of a country's exports and imports of goods over a specified period. When the value of exports exceeds the value of imports, the country has a favourable balance of trade; when imports exceed exports, the balance is unfavourable.
Balance of trade refers to the difference between the value of a country's exports and imports of goods over a specified period. When the value of exports exceeds the value of imports, the country has a favourable balance of trade; when imports exceed exports, the balance is unfavourable.