Concept:The balance of payments compares all earnings from exports and all payments for imports, including both visible and invisible items.
Explanation:Visible exports and imports are tangible goods.
Invisible exports and imports are services such as banking, insurance, shipping, and tourism.
When the monetary values of both visible and invisible trade are combined and compared, the result is a country's balance of payments.
The balance of trade is limited to visible goods only.
Terms of trade compare export and import prices, while terms of payment describe payment arrangements.
Therefore, the correct term is balance of payment.
Answer:A. balance of payment