A nation's merchandise trade balance reflects _____.

A) trade in tangible products
B) the value of exports of services
C) the value of imports of services
D) the same information as its balance of payments
E) trade in tangibles and intangibles

Merchandise Trade

International trade in goods as opposed to services, including both exports and imports of physical products.

Tangible Products

Physical items that can be touched, seen, and measured, such as electronics, clothing, and furniture.

Intangibles

Non-physical assets such as patents, copyrights, brand recognition, and goodwill that have value but are not physical objects.