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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