Hi, I am hoping someone could help me with this. The question asks whether we are able to calculates the trade balance from the data given in the question. My question is, is this the same as balance of trade as described in the notes. The reason is that I am sure that in the notes in describes balance of trade as the net exports of goods and services only from the current account. Whereas in the solution it states that trade balance does not include services and as such we are uanble to calculate this from the data given in the question. Are these the same thing or am I getting confused?
Have a look on page 20 of Chapter 19 - there's a warning about the different possible meanings of trade balance. The term trade balance isn't actually defined in the Core Reading, so this question is a little unfair as it could have alternative (but valid) answers.
