Question : The balance of payments is a record of:
Option 1: Government revenue and expenditure
Option 2: Imports and exports of goods only
Option 3: Financial transactions between residents and non-residents
Option 4: Gross domestic product (GDP) and economic growth
Correct Answer: Financial transactions between residents and non-residents
Solution : The correct answer is (c) Financial transactions between residents and non-residents.
The balance of payments is a comprehensive record of all economic transactions between residents of a country and non-residents over a specific period. It captures financial flows, such as the exchange of goods, services, income, and financial assets, between domestic and foreign entities.
Question : The balance of payments is a systematic record of a country's:
Question : If exports equal imports, then which of the following relations will be true?
Question : The balance of payments is a systematic record of all and transactions between a country ____________and _____________the rest of the world.
Question : ______ refers to the difference between the value of exports and imports of a country.
Question : Gross Domestic Product (GDP) is calculated by adding ______ to ______.
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile