Sia
Question
Statistics
Posted 10 months ago
Which of the following best describes the balance of payments accounts?
Choose 1 answer:
(A) A record of foreign remittances to a country
(B) A record of all of a country's exports and imports
(c) A record of the financial capital inflows and outflows in a country
(D) A record of a bank's assets and liabilities
(E) A record of all international transactions
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Answer from Sia
Posted 10 months ago
Solution by Steps
step 1
Identify the definition of the balance of payments accounts
step 2
Evaluate the answer choices against the definition. The balance of payments is a record of all transactions made between one particular country and all other countries. It tracks all international transactions, including trade in goods and services, financial capital, and financial transfers
step 3
Select the answer choice that encompasses all aspects of the balance of payments
Answer
E
Key Concept
Balance of Payments Accounts
Explanation
The balance of payments accounts is a comprehensive record of all international transactions made by a country over a specific period.
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