JAMB Economics 1986 Question 43

The term balance of trade, can be defined as the

1. A.relation between value of exports and value of imports over a given period of time
2. B.balance owed to the rest of the world in payment for imports
3. C.price paid for imports in terms of exports
4. D.relation between payments of all kinds made by a country to the rest of the world, over a given period of time.