Which of the following statement is not correct?

Balance of trade and balance of payments have serious implications for a countrys economy A Positive balance would mean that the country spends more on buying goods than it can earn by selling its goods Both 1 and 2 None of the above

A Positive balance would mean that the country spends more on buying goods than it can earn by selling its goods

A negative balance would mean that the country spends more on buying goods than it can earn by selling its goods.