Question : Which of the following is not a component of the balance of payments?
Option 1: Current account
Option 2: Capital account
Option 3: financial account
Option 4: Trade account
Answer (1)
27th Jan, 2024
Correct Answer: Trade account
Solution : The correct answer is (d) Trade account
The "Trade account" is not a separate component of the balance of payments. However, it is commonly used to refer to the balance of trade, which is the difference between a country's exports and imports of goods and services.
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