The relationship between a country’s total receipts and payments in international trade in a given…

The relationship between a country’s total receipts and payments in international trade in a given year is called?
  • A.
    balance of trade
  • B.
    balance of payments
  • C.
    terms of trade
  • D.
    balance of current account
  • E.
    balance on capital account
Correct Answer: Option B
Explanation
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