The relationship between a country’s visible imports and exports in a trading year is known as
-
balance of trade
- counter trade
- international trade
- balance of payment
The correct answer is: A
Explanation
The balance of trade is a measure of the difference between the value of a country's visible exports (goods and services sold to other countries) and visible imports (goods and services purchased from other countries) over a specific period, usually a trading year. It provides insight into the economic relationship between a country and its trading partners.
The balance of trade can be positive (surplus) if the value of exports exceeds imports, indicating that a country is exporting more than it is importing. Conversely, it can be negative (deficit) if imports exceed exports, indicating that a country is importing more than it is exporting.