The balance of trade is a measure of the difference between a country'

Question

Data Insights (DI) Butler 2023-24 Click here for Details ] The balance of trade is a measure of the difference between a country's total exports and imports of goods and services over a given period of time, usually a year. If a country's exports are greater than its imports, it has a trade surplus, which means that it is earning more revenue from selling its goods and services abroad than it is spending on buying goods and services from other countries. On the other hand, if a country's imports are greater than its exports, it has a trade deficit, which means that it is spending more on buying goods and services from other countries than it is earning from selling its own goods and services abroad. The balance of trade is an important indicator of a country's economic performance and is closely watched by policymakers and analysts to assess the health of a country's economy and its position in the global marketplace. The following line chart presents import and export data of country X. https://gmatclub.com/forum/download/file.php?mode=view&id=74577 Choose the most appropriate option from the dropdown menu below based on the information provided above. I. The import and export data presented in the chart above indicates that the balance of trade of Country X persisted in a state of GRAPH_1_PLACEHOLDER throughout the period from 2010 to 2017. II. The year GRAPH_2_PLACEHOLDER balance of trade. 3.jpg

mayankdgmat · Answer

Surplus, 2015

For statement 1 pl focus on relevant part of passage which is "If a country's exports are greater than its imports, it has a trade surplus". As we can see export line is always above import so answer is surplus

For statement 2, we see from dropdown is talking about 2012,2013,2015,2016. Least gap is in 2010 and 2011 which is not even a option hence 2012, 2013 is out. Between 2015 and 2016, 2015 has highest gap hence our answer is 2015.

tanishqgirotra · Answer

Hi Sajjad/whosoever concerned,

These DI questions and the DI questions provided in the practice tests in the subscription differ a lot in terms of difficulty level,i.e. the subscription questions are typically very difficult.

So what type of questions can we expect on the actual exam? I am confused a lot as to where to practice from?

Please tell.

Sajjad1994 · Answer

This is not just. Questions with all difficulty levels are available at both places. It depends on which set you have selected to practice with. You can find some super hard questions here in the forum and easy questions in GMAT Club tests.

Thank you!

piediepie · Answer

How it is 2015 for the 2nd question and not 2013??
can anyone please elaborate.

Sajjad1994 · Answer

Least favorable is 2011 that is not in the list. And most fav. is in 2015 that is available in the list. Just see the gap between the two curves.

Gemmie · Answer

I. The import and export data presented in the chart above indicates that the balance of trade of Country X persisted in a state of   throughout the period from 2010 to 2017.

For the whole period, the export is always higher than import => Surplus throughout the period

II. The year   balance of trade.

In 2015, the balance of trade (difference between export - import) is highest

The balance of trade is a measure of the difference between a country'

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The balance of trade is a measure of the difference between a country'

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