Which of the Following Best Defines Balance of Trade

Multiple Choice

Which of the following best defines balance of trade?

A) purchasing products in other countries and bringing them into one's own country
B) the total value of a nation's exports minus the total value of its imports over some period of time
C) the total flow of money into the country minus the total flow of money out of the country over some period of time
D) the ability to specialize in the production of a specific product and trade it for other needed products
E) the ability to produce a certain product more efficiently than any other nation