Imports And Exports Flashcards
1
Q
Visible exports
A
Are physical products produced by a country that are sent to other countries
2
Q
Invisible exports
A
Are services provided by residents of a country
3
Q
Visible imports
A
Are physical goods purchased by residents of country that cause money to go out of the country
4
Q
Invisible imports
A
Are services purchased by residents of a country that cause money to go out of the country
5
Q
Balance of trade
A
Difference between visible exports and visible imports
6
Q
The balance on the current account
A
Is the balance of trade plus/minus value of invisible exports or imports
