Question

Balance of payments includes ......................in its circulation?

A Visible goods Correct Answer Incorrect Answer
B Invisible goods Correct Answer Incorrect Answer
C Both visible and invisible goods Correct Answer Incorrect Answer
D Giffen’s good Correct Answer Incorrect Answer
E None of these Correct Answer Incorrect Answer

Solution

Giffen’s good is a product that people consume more of as the price rises and vice versa—violating the basic law of demand in microeconomics.

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