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A country has a balance of trade of $100 million and a balance of services of -$

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Question: A country has a balance of trade of $100 million and a balance of services of -$50 million. What is the overall balance?

Options:

$50 million surplus
$50 million deficit
$100 million surplus
$100 million deficit

Correct Answer: $50 million surplus

Solution:

Overall balance = Balance of trade + Balance of services = $100 million - $50 million = $50 million surplus.

A country has a balance of trade of $100 million and a balance of services of -$

Practice Questions

Q1

A country has a balance of trade of $100 million and a balance of services of -$50 million. What is the overall balance?

$50 million surplus
$50 million deficit
$100 million surplus
$100 million deficit

Questions & Step-by-Step Solutions

A country has a balance of trade of $100 million and a balance of services of -$50 million. What is the overall balance?

Step 1: Identify the balance of trade, which is $100 million.
Step 2: Identify the balance of services, which is -$50 million.
Step 3: To find the overall balance, add the balance of trade and the balance of services together.
Step 4: Perform the calculation: $100 million + (-$50 million).
Step 5: Simplify the calculation: $100 million - $50 million = $50 million.
Step 6: Conclude that the overall balance is a surplus of $50 million.

Balance of Trade – The difference between a country's exports and imports of goods.
Balance of Services – The difference between a country's exports and imports of services.
Overall Balance – The sum of the balance of trade and the balance of services, indicating the net position of a country's trade.

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