Asked by MaryJean Throm on May 06, 2024
Verified
According to the World Bank, remittances from its workers abroad accounted for what portion of Mexico's GDP in 2017?
A) 0.5 percent
B) 3 percent
C) 10 percent
D) 31 percent
Remittances
Money sent by migrants back to their home countries, often to support family members financially.
GDP
Gross Domestic Product, the total market value of all final goods and services produced within a country in a specific time period.
- Examine the fiscal impacts of immigration, focusing on state and local government burdens and the contribution of remittances to GDP.
Verified Answer
PK
preet kharoudMay 10, 2024
Final Answer :
B
Explanation :
In 2017, remittances from workers abroad accounted for about 3 percent of Mexico's GDP, according to the World Bank. This significant contribution highlights the importance of remittances to the Mexican economy, supporting families and contributing to economic activity.
Learning Objectives
- Examine the fiscal impacts of immigration, focusing on state and local government burdens and the contribution of remittances to GDP.