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iVinArrow [24]
3 years ago
6

Difference between money paid to and money received from other nations in trade is called balance of trade.

Business
2 answers:
goldfiish [28.3K]3 years ago
8 0

Answer:

false

Explanation:

aleksley [76]3 years ago
6 0

Answer:

False

Explanation:

This is a definition of Balance of Payment hence making this statement false. This is commonly confused since they almost sound the same. Here's the difference; Balance of payment is for recording all economic transactions of a country with other countries like inflow and outflow of foreign exchange, so basically money. Balance of trade on the other hand is the difference in the value of a country's imports and exports.

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Explanation:

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