refers to situation of excess of imports of goods over exports of goods ........

Introductory Macro Economics Open Economy Macroeconomics

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______________refers to situation of excess of imports of goods over exports of goods.

Balance of Payment Deficit

Fiscal Deficit

Balance of Trade Deficit

All of these

Explanation:

Option (3) is correct.
Explanation: The difference between export and import of goods, i.e. only the visible items of economic transactions is termed as Balance of Trade. A deficit in Balance of Trade
indicates that the value of export of goods is less than the imports of goods for a country.

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