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      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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