Q.12 what is circular debt? it is a debt in which a debt taken to repay the amount of already taken debt. Q.13 Balance of payment? It is an account which shows the transactions of countries residence with the rest of the world. Q.14 trade deficit? When import volume occurs greater than export volume it is called trade deficit. Q.15 current import and export volume? Volume of export is 18 billion and volume of import is 32 billion Q.16 recently we have budget deficit or budget surplus? Deficit