The relationship between the values of a country's imports and its exports is called.
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → Balance of Trade
The balance of trade is the difference between the values of a country’s exports and imports of goods over a period, usually a year. When exports are larger, the country has a trade surplus; when imports are larger, a trade deficit.
It is one part of the wider balance of payments, which also records trade in services, income from abroad and the flow of capital.