Question 1
The difference between a country's merchandise exports and its merchandise imports is the
◦ balance of payments.
◦ capital account.
◦ current account.
◦ balance of trade.
Question 2
When a country's exports of goods are greater than its imports of goods in a given period, it has a
◦ trade deficit.
◦ capital account surplus.
◦ trade surplus.
◦ current account deficit.