Match the following.
| List-I (Concepts) | List-II (Features) |
| a. Absolute advantage | 1. State in which exports equal imports |
| b. Balance of trade | 2. Ability of a country to produce a good more efficiently |
| c. Static equilibrium | 3. It is a long-term phenomenon |
| d. Secular disequilibrium | 4. Difference between merchandise exports and imports |
A. a-3, b-2, c-4, d-1
B. a-3, b-4, c-1, d-2
C. a-2, b-4, c-1, d-3
D. a-4, b-3, c-2, d-1
Answer: Option C
This Question Belongs to Management >> Foreign Trade Policy
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