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 & Solution

Correct Answer: Option C

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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