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    Question

    Which of the following defines the concept of Balance of

    Payments most appropriately?
    A It records the transactions in goods, services, and assets between residents of a country with the rest of the world for a specified time period. Correct Answer Incorrect Answer
    B It records the transactions in goods, services, and assets between citizens of a country with the rest of the world for a specified time period. Correct Answer Incorrect Answer
    C It records exports and imports in goods and services and transfer payments. Correct Answer Incorrect Answer
    D It records the net export levels of goods and services and transfer payments. Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    It records the transactions in goods, services and assets between residents of a country with the rest of the world for a specified time period typically a year There are two main accounts in the BoP тАУ the current account and the capital account. The current account records exports and imports in goods and services and transfer payments.

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